Goehring & Rozencwajg Associates LLC Boosts Stake in Diamondback Energy, Inc. $FANG

Goehring & Rozencwajg Associates LLC increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 33.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 113,489 shares of the oil and natural gas company’s stock after acquiring an additional 28,246 shares during the period. Diamondback Energy makes up about 1.2% of Goehring & Rozencwajg Associates LLC’s portfolio, making the stock its 27th largest holding. Goehring & Rozencwajg Associates LLC’s holdings in Diamondback Energy were worth $22,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FANG. Boston Partners raised its holdings in Diamondback Energy by 2.9% in the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after purchasing an additional 163,548 shares during the period. Geode Capital Management LLC grew its holdings in Diamondback Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock valued at $844,073,000 after purchasing an additional 14,625 shares during the period. Bank of New York Mellon Corp increased its position in shares of Diamondback Energy by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after buying an additional 532,756 shares in the last quarter. Capital Research Global Investors increased its position in shares of Diamondback Energy by 14.1% in the fourth 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 buying an additional 534,073 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Diamondback Energy by 3.2% during the 4th quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company’s stock worth $575,605,000 after buying an additional 117,798 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $189.76 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The stock’s 50 day simple moving average is $191.10 and its 200-day simple moving average is $180.37. The company has a market cap of $53.38 billion, a PE ratio of 220.65 and a beta of 0.42. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same period in the previous year, the business earned $4.54 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 19.17 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

Insider Buying and Selling at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 83,334 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the transaction, the director directly owned 851,530 shares in the company, valued at approximately $159,338,293.60. The trade was a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the transaction, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 113,691 shares of company stock worth $21,622,752 over the last three months. 0.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Zacks Research lowered Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Roth Capital set a $212.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Monday, June 22nd. Mizuho upped their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Citigroup increased their price objective on shares of Diamondback Energy from $225.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Sanford C. Bernstein lifted their target price on shares of Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Five analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Buy” and an average price target of $220.68.

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.