UniSuper Management Pty Ltd Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

UniSuper Management Pty Ltd grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 337.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,211 shares of the oil and natural gas company’s stock after acquiring an additional 5,564 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Diamondback Energy were worth $1,429,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Founders Capital Management grew its position in Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after acquiring an additional 101 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth about $27,000. Logan Capital Management Inc. purchased a new position in Diamondback Energy in the 4th quarter worth about $31,000. Turtle Creek Wealth Advisors LLC bought a new stake in Diamondback Energy during the 4th quarter valued at about $34,000. Finally, CVA Family Office LLC purchased a new stake in Diamondback Energy in the 4th quarter valued at about $35,000. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In other news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the transaction, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares in the company, valued at approximately $13,736,123.78. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Truist Financial lifted their target price on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Susquehanna increased their price target on Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Royal Bank of Canada lifted their price objective on Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Finally, Sanford C. Bernstein dropped their target price on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.65.

Diamondback Energy Stock Performance

Diamondback Energy stock traded down $6.32 during trading hours on Tuesday, hitting $198.36. 1,388,986 shares of the stock traded hands, compared to its average volume of 1,585,882. Diamondback Energy, Inc. has a 1 year low of $141.98 and a 1 year high of $214.50. The stock has a market capitalization of $35.38 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.14 and a beta of 1.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. The firm’s 50 day moving average price is $197.77 and its 200-day moving average price is $187.64.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. Diamondback Energy’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $4.10 EPS. As a group, equities analysts expect that Diamondback Energy, Inc. will post 18.7 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were issued a $0.90 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.81%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.