Diamondback Energy, Inc. $FANG Shares Sold by Kempner Capital Management Inc.

Kempner Capital Management Inc. trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 47.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,166 shares of the oil and natural gas company’s stock after selling 4,649 shares during the quarter. Kempner Capital Management Inc.’s holdings in Diamondback Energy were worth $739,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Diamondback Energy by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock worth $3,204,894,000 after buying an additional 388,512 shares during the last quarter. Boston Partners increased its stake in shares of Diamondback Energy by 2.8% in the second quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock worth $766,914,000 after acquiring an additional 151,150 shares during the period. Geode Capital Management LLC raised its holdings in shares of Diamondback Energy by 2.7% during the second quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock worth $746,526,000 after purchasing an additional 142,649 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Diamondback Energy by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock valued at $637,841,000 after purchasing an additional 384,971 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in Diamondback Energy by 9.2% in the second quarter. Raymond James Financial Inc. now owns 1,952,276 shares of the oil and natural gas company’s stock valued at $268,243,000 after purchasing an additional 164,293 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 377,911 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the transaction, the director owned 1,044,864 shares in the company, valued at $144,828,599.04. This represents a 26.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FANG has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on Diamondback Energy from $160.00 to $169.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Piper Sandler reduced their price target on Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday. Finally, Susquehanna cut their target price on shares of Diamondback Energy to $188.00 and set a “positive” rating for the company in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Diamondback Energy has an average rating of “Buy” and an average target price of $188.76.

Diamondback Energy Stock Down 0.4%

Shares of FANG opened at $146.31 on Friday. The firm has a market cap of $41.90 billion, a P/E ratio of 10.17 and a beta of 0.63. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $180.91. The stock’s 50 day moving average is $148.38 and its two-hundred day moving average is $144.94. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The business’s revenue was up 48.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 EPS. Analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. Diamondback Energy’s payout ratio is currently 27.80%.

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.