6,329 Shares in Diamondback Energy, Inc. $FANG Purchased by Provenance Wealth Advisors LLC

Key Points

• Provenance Wealth Advisors opened a position in Diamondback Energy, buying 6,329 shares worth about $1.16 million in the third quarter. Institutional investors overall own approximately 90% of the company’s stock.
• Diamondback beat third-quarter estimates, reporting $5.86 per share in earnings and $5.43 billion in revenue; revenue grew 38.4% year over year.
• The company raised its quarterly dividend from $1.10 to $1.18 per share, equivalent to an annualized $4.72 and a 2.6% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $228.29.

Provenance Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,329 shares of the oil and natural gas company's stock, valued at approximately $1,163,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake in Diamondback Energy by 5.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 25,191 shares of the oil and natural gas company's stock valued at $4,630,000 after buying an additional 1,259 shares in the last quarter. One Way Holdings LLC raised its position in Diamondback Energy by 6.3% in the third quarter. One Way Holdings LLC now owns 126,764 shares of the oil and natural gas company's stock worth $23,301,000 after acquiring an additional 7,505 shares in the last quarter. Woodmont Investment Counsel LLC raised its position in Diamondback Energy by 1.7% in the third quarter. Woodmont Investment Counsel LLC now owns 53,989 shares of the oil and natural gas company's stock worth $9,924,000 after acquiring an additional 926 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Diamondback Energy by 2.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 466,136 shares of the oil and natural gas company's stock worth $85,680,000 after acquiring an additional 12,264 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Diamondback Energy in the 3rd quarter valued at about $34,178,000. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy News Summary

Here are the key news stories impacting Diamondback Energy this week:

• Positive Sentiment: Q3 results beat expectations. Diamondback reported earnings of $5.86 per share versus the $5.72 consensus and revenue of $5.43 billion versus $4.60 billion expected. Higher production and realized oil prices supported results and cash generation. Article: Diamondback Q3 Earnings Beat on Higher Oil Prices and Production
• Positive Sentiment: Raised outlook and disciplined growth plans. Management lifted its 2026 production outlook while emphasizing spending discipline, Barnett development and improved well economics. These plans could support future output and returns without a major increase in reinvestment. Article: FANG Q3 Earnings Call Highlights Capital Discipline and Permian Growth
• Positive Sentiment: Dividend increased 7.3%. The quarterly dividend rose from $1.10 to $1.18 per share, signaling confidence in cash generation and adding to shareholder returns. Article: Diamondback Energy Raises Dividend and 2026 Oil Production Outlook
• Positive Sentiment: Some analysts raised price targets. UBS lifted its target to $260 and Truist raised its target to $232; both maintained Buy ratings.
• Negative Sentiment: Wells Fargo lowered its target from $263 to $244, though it kept an Overweight rating. This more cautious valuation view may have weighed against the otherwise upbeat updates.

Diamondback Energy Trading Down 4.9%

NASDAQ FANG opened at $182.88 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 0.26. Diamondback Energy, Inc. has a 1-year low of $137.03 and a 1-year high of $216.90. The firm's fifty day simple moving average is $196.55 and its 200-day simple moving average is $189.66. The company has a market capitalization of $51.21 billion, a PE ratio of 10.51 and a beta of 0.49.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, November 2nd. The oil and natural gas company reported $5.86 EPS for the quarter, topping the consensus estimate of $5.72 by $0.14. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $4.60 billion. Diamondback Energy had a net margin of 11.03% and a return on equity of 11.86%. The business's quarterly revenue was up 38.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.08 earnings per share. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 21.51 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 12th will be paid a $1.18 dividend. The ex-dividend date is Thursday, November 12th. This represents a $4.72 annualized dividend and a dividend yield of 2.6%. This is an increase from Diamondback Energy's previous quarterly dividend of $1.10. Diamondback Energy's dividend payout ratio is currently 85.77%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FANG. Morgan Stanley boosted their target price on shares of Diamondback Energy from $216.00 to $222.00 and gave the stock an "equal weight" rating in a report on Thursday, October 15th. JPMorgan Chase & Co. raised their target price on shares of Diamondback Energy from $211.00 to $233.00 in a report on Wednesday, August 5th. Wells Fargo & Company decreased their price target on shares of Diamondback Energy from $263.00 to $244.00 and set an "overweight" rating on the stock in a research report on Wednesday. Weiss Ratings raised Diamondback Energy from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, October 19th. Finally, Roth Capital upped their price target on Diamondback Energy from $205.00 to $212.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $228.29.

Insider Activity at Diamondback Energy

In other news, Director Charles Meloy sold 33,333 shares of the company's stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $183.74, for a total value of $6,124,605.42. Following the sale, the director owned 759,864 shares of the company's stock, valued at approximately $139,617,411.36. This represents a 4.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis Stice sold 75,000 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $204.31, for a total value of $15,323,250.00. Following the sale, the director owned 49,727 shares in the company, valued at approximately $10,159,723.37. This trade represents a 60.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.64% of the company's stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. The company's operations are concentrated in the Permian Basin of West Texas and southeastern New Mexico, particularly the Midland and Delaware Basins.

Diamondback produces crude oil, natural gas and natural gas liquids from horizontal wells and related infrastructure. Its activities include drilling and completing wells, operating gathering and processing assets, and managing midstream services that support production.

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