Daiwa Securities Group Inc. Acquires 2,805 Shares of Diamondback Energy, Inc. $FANG

Daiwa Securities Group Inc. grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,945 shares of the oil and natural gas company’s stock after buying an additional 2,805 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Diamondback Energy were worth $8,410,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FANG. Cresset Asset Management LLC grew its stake in shares of Diamondback Energy by 37.5% during the second quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock valued at $649,000 after buying an additional 1,288 shares during the last quarter. Jump Financial LLC bought a new position in Diamondback Energy in the second quarter worth approximately $2,301,000. Cerity Partners LLC grew its stake in Diamondback Energy by 13.5% in the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock worth $7,022,000 after purchasing an additional 6,069 shares in the last quarter. AXA S.A. grew its stake in Diamondback Energy by 8.5% in the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock worth $7,194,000 after purchasing an additional 4,103 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Diamondback Energy by 37.1% in the second quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock worth $21,239,000 after purchasing an additional 41,866 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles Alvin Meloy sold 7,857 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $189.20, for a total value of $1,486,544.40. Following the sale, the director owned 942,721 shares of the company’s stock, valued at approximately $178,362,813.20. This represents a 0.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 78,464 shares of company stock worth $14,946,406. Company insiders own 0.64% of the company’s stock.

More Diamondback Energy News

Here are the key news stories impacting Diamondback Energy this week:

• Positive Sentiment: Zacks Research and KeyCorp both lifted several near- and longer-term earnings estimates for Diamondback Energy, suggesting analysts still see solid profit potential ahead. Zacks also reiterated a Hold rating, while KeyCorp kept an Overweight rating and a $225 price target.
• Positive Sentiment: Zacks described Diamondback Energy as a strong momentum stock, which may reinforce bullish sentiment around the name. Zacks momentum stock article
• Neutral Sentiment: One article noted that Diamondback Energy has been trading near highs, but the focus was on market activity rather than a direct company-specific catalyst.
• Negative Sentiment: Financial Post reported that the daughter of late wildcatter Autry Stephens is offloading a $2 billion energy stake, including a Diamondback Energy position. Large insider- or major-holder selling can weigh on sentiment because investors may view it as profit-taking after a strong run. Stephens family stake sale in Diamondback Energy

Diamondback Energy Price Performance

Diamondback Energy stock opened at $192.62 on Monday. The business has a fifty day moving average of $196.07 and a two-hundred day moving average of $173.91. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. The firm has a market cap of $54.19 billion, a P/E ratio of 223.98 and a beta of 0.42. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.Diamondback Energy’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.54 earnings per share. On average, analysts forecast that Diamondback Energy, Inc. will post 19.65 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $1.10 per share. The ex-dividend date was Thursday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s dividend payout ratio (DPR) is currently 511.63%.

Analyst Upgrades and Downgrades

FANG has been the topic of several research analyst reports. UBS Group increased their price objective on Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Susquehanna increased their price objective on Diamondback Energy from $231.00 to $245.00 and gave the stock a “positive” rating in a research note on Wednesday, May 6th. Morgan Stanley increased their price objective on Diamondback Energy from $224.00 to $229.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. KeyCorp increased their price objective on Diamondback Energy from $196.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average target price of $223.26.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.