Gallacher Capital Management LLC Purchases New Shares in Diamondback Energy, Inc. $FANG

Gallacher Capital Management LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,188 shares of the oil and natural gas company’s stock, valued at approximately $828,000.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Diamondback Energy by 74.1% in the fourth quarter. Wellington Management Group LLP now owns 3,239,837 shares of the oil and natural gas company’s stock worth $487,045,000 after buying an additional 1,379,010 shares during the period. EnCap Energy Capital Fund XII L.P. acquired a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $169,342,000. Smead Capital Management Inc. acquired a new stake in shares of Diamondback Energy during the second quarter valued at approximately $144,775,000. Encompass Capital Advisors LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $112,198,000. Finally, Capital Research Global Investors lifted its position in shares of Diamondback Energy by 14.1% in the 4th quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after acquiring an additional 534,073 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.2%

Shares of NASDAQ:FANG opened at $190.13 on Friday. The firm has a fifty day moving average of $191.10 and a two-hundred day moving average of $180.67. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $214.51. The firm has a market capitalization of $53.49 billion, a P/E ratio of 221.08 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly 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 business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. Diamondback Energy’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.54 earnings per share. On average, equities analysts expect that Diamondback Energy, Inc. will post 19.21 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s payout ratio is currently 511.63%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Scotiabank raised their price objective on shares of Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Barclays boosted their target price on shares of Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Raymond James Financial restated a “strong-buy” rating and issued a $249.00 target price on shares of Diamondback Energy in a report on Wednesday, June 10th. Wall Street Zen raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research downgraded Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $219.53.

Insider Transactions at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 83,334 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the transaction, the director owned 851,530 shares in the company, valued at approximately $159,338,293.60. This represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the transaction, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. This represents a 9.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 113,691 shares of company stock valued at $21,622,752 over the last 90 days. Company insiders own 0.64% of the company’s stock.

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.