Commerzbank Aktiengesellschaft FI Takes $1.35 Million Position in Diamondback Energy, Inc. $FANG

Commerzbank Aktiengesellschaft FI bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 7,661 shares of the oil and natural gas company’s stock, valued at approximately $1,347,000.

Other institutional investors have also added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators increased its stake in Diamondback Energy by 31.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock valued at $41,000 after acquiring an additional 66 shares during the period. Scotia Capital Inc. lifted its position in shares of Diamondback Energy by 0.3% in the 3rd quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after acquiring an additional 68 shares during the period. Capital Financial Group Inc. Co. ADV lifted its position in shares of Diamondback Energy by 2.1% in the 1st quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock worth $709,000 after acquiring an additional 75 shares during the period. Physician Wealth Advisors Inc. grew its holdings in shares of Diamondback Energy by 40.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 301 shares of the oil and natural gas company’s stock worth $45,000 after purchasing an additional 86 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of Diamondback Energy by 0.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,564 shares of the oil and natural gas company’s stock worth $2,513,000 after purchasing an additional 86 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

FANG opened at $210.02 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $214.51. The company has a fifty day moving average price of $190.79 and a two-hundred day moving average price of $188.42. The firm has a market capitalization of $58.81 billion, a PE ratio of 40.94 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The firm’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.38 earnings per share. As a group, analysts anticipate that Diamondback Energy, Inc. will post 19.5 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be given a $1.10 dividend. The ex-dividend date is Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. Diamondback Energy’s dividend payout ratio is currently 85.77%.

Insiders Place Their Bets

In related news, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the sale, the chief accounting officer directly owned 85,755 shares in the company, valued at $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles Alvin Meloy sold 33,333 shares of Diamondback Energy stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $198.41, for a total value of $6,613,600.53. Following the completion of the sale, the director directly owned 818,197 shares in the company, valued at $162,338,466.77. This represents a 3.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 129,167 shares of company stock valued at $24,714,309 over the last ninety days. 0.64% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on FANG. Roth Capital set a $212.00 target price on Diamondback Energy and gave the company a “buy” rating in a research note on Monday, June 22nd. Morgan Stanley decreased their target price on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Weiss Ratings raised Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Scotiabank boosted their price target on shares of Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Mizuho increased their target price on Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Diamondback Energy has an average rating of “Buy” and an average price target of $221.75.

Diamondback Energy 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.