Clear Harbor Asset Management LLC Purchases New Stake in Diamondback Energy, Inc. $FANG

Clear Harbor Asset Management LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,777 shares of the oil and natural gas company’s stock, valued at approximately $3,301,000.

Several other large investors have also recently bought and sold shares of FANG. Deseret Mutual Benefit Administrators boosted its position in shares of Diamondback Energy by 31.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock worth $41,000 after purchasing an additional 66 shares in the last quarter. Scotia Capital Inc. grew its position in Diamondback Energy by 0.3% during the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after buying an additional 68 shares during the period. Capital Financial Group Inc. Co. ADV boosted its stake in shares of Diamondback Energy by 2.1% during 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 in the last quarter. Physician Wealth Advisors Inc. grew its holdings in shares of Diamondback Energy by 40.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 301 shares of the oil and natural gas company’s stock worth $45,000 after acquiring an additional 86 shares during the period. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of Diamondback Energy by 0.5% in 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 acquiring an additional 86 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. UBS Group cut their price objective on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Raymond James Financial reiterated a “strong-buy” rating and issued a $248.00 price target on shares of Diamondback Energy in a report on Friday, July 31st. Truist Financial lifted their price objective on Diamondback Energy from $220.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Wells Fargo & Company lifted their price target on shares of Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, Barclays dropped their price objective on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.21.

Diamondback Energy Trading Down 0.1%

NASDAQ FANG opened at $210.72 on Friday. The stock has a market cap of $59.01 billion, a P/E ratio of 41.08 and a beta of 0.43. The company’s fifty day simple moving average is $191.79 and its 200-day simple moving average is $189.22. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $216.90.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the business earned $2.38 EPS. The business’s revenue was up 51.2% on a year-over-year basis. Equities research analysts predict that Diamondback Energy, Inc. will post 20.13 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

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

Insiders Place Their Bets

In related news, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the transaction, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The shares were 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 directly owned 46,392 shares of the company’s stock, valued at $9,303,451.68. This represents a 9.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 129,167 shares of company stock valued at $24,714,309 over the last ninety days. Insiders own 0.64% of the company’s stock.

About Diamondback Energy

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.