King Luther Capital Management Corp Sells 2,907 Shares of Diamondback Energy, Inc. $FANG

King Luther Capital Management Corp trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 165,306 shares of the oil and natural gas company’s stock after selling 2,907 shares during the period. King Luther Capital Management Corp owned approximately 0.06% of Diamondback Energy worth $24,850,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of FANG. Smead Capital Management Inc. bought a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $144,775,000. Capital Research Global Investors boosted its holdings in shares of Diamondback Energy by 38.0% during the 3rd quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company’s stock worth $543,610,000 after buying an additional 1,046,398 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Diamondback Energy by 2,637.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 456,686 shares of the oil and natural gas company’s stock worth $65,352,000 after buying an additional 440,005 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Diamondback Energy by 1,127.8% during the 3rd quarter. Two Sigma Investments LP now owns 369,568 shares of the oil and natural gas company’s stock worth $52,885,000 after buying an additional 339,468 shares in the last quarter. Finally, Ninepoint Partners LP bought a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $45,076,000. 90.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FANG has been the topic of a number of research analyst reports. UBS Group increased their price target on Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, April 10th. TD Cowen upgraded Diamondback Energy to a “strong-buy” rating in a report on Monday, February 9th. Morgan Stanley increased their price target on Diamondback Energy from $224.00 to $229.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Piper Sandler increased their price target on Diamondback Energy from $215.00 to $248.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Finally, The Goldman Sachs Group increased their price target on Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $223.26.

Insider Buying and Selling

In related news, Director Charles Alvin Meloy sold 7,857 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $183.27, for a total value of $1,439,952.39. Following the transaction, the director directly owned 974,149 shares in the company, valued at $178,532,287.23. This trade represents a 0.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Travis D. Stice sold 63,957 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $181.16, for a total value of $11,586,450.12. Following the completion of the sale, the chairman directly owned 305,314 shares of the company’s stock, valued at $55,310,684.24. The trade was a 17.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 174,321 shares of company stock worth $32,090,475 over the last quarter. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG opened at $192.84 on Thursday. Diamondback Energy, Inc. has a 12-month low of $133.75 and a 12-month high of $214.51. The business’s fifty day moving average is $195.10 and its 200 day moving average is $171.30. 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 stock has a market cap of $54.25 billion, a P/E ratio of 224.24 and a beta of 0.46.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same period last year, the business earned $4.54 EPS. Diamondback Energy’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 19.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

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.