Bank of New York Mellon Corp Increases Holdings in Diamondback Energy, Inc. $FANG

Key Points

• Bank of New York Mellon increased its Diamondback Energy stake by 11.5% in Q4, owning 5.16 million shares worth about $775.6 million at quarter-end.
• Several analysts have recently raised price targets on FANG, with the stock carrying a “Moderate Buy” consensus and an average target price of $223.26.
• Diamondback reported better-than-expected Q1 results, posting EPS of $4.23 versus $3.74 expected and revenue of $4.24 billion, while also raising its quarterly dividend to $1.10 per share.

Bank of New York Mellon Corp raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,159,365 shares of the oil and natural gas company's stock after buying an additional 532,756 shares during the quarter. Bank of New York Mellon Corp owned about 1.80% of Diamondback Energy worth $775,607,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth $25,000. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth $26,000. Richardson Financial Services Inc. raised its stake in shares of Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company's stock worth $26,000 after purchasing an additional 125 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Diamondback Energy in the third quarter worth $26,000. Finally, Wellington Shields & Co. LLC raised its stake in shares of Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock worth $28,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FANG. Piper Sandler boosted their price target on Diamondback Energy from $215.00 to $248.00 and gave the stock an "overweight" rating in a research note on Thursday, March 12th. Susquehanna upped their price objective on Diamondback Energy from $231.00 to $245.00 and gave the company a "positive" rating in a research report on Wednesday, May 6th. Morgan Stanley upped their price objective on Diamondback Energy from $224.00 to $229.00 and gave the company an "overweight" rating in a research report on Friday, May 22nd. The Goldman Sachs Group upped their price objective on Diamondback Energy from $187.00 to $212.00 and gave the company a "buy" rating in a research report on Wednesday, March 11th. Finally, Sanford C. Bernstein upped their price objective on Diamondback Energy from $237.00 to $241.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $223.26.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $210.59 on Thursday. The stock has a 50-day simple moving average of $196.02 and a two-hundred day simple moving average of $173.21. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The firm has a market capitalization of $59.24 billion, a PE ratio of 244.87 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the company posted $4.54 earnings per share. Diamondback Energy's revenue for the quarter was up 4.7% on a year-over-year basis. Analysts forecast that Diamondback Energy, Inc. will post 19.54 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a dividend of $1.10 per share. This is a boost from Diamondback Energy's previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy's dividend payout ratio is presently 511.63%.

Diamondback Energy News Roundup

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

• Positive Sentiment: Zacks Research raised Diamondback’s earnings estimates for several future periods, including Q1 2027, Q2 2027, Q3 2027, and FY2028, suggesting a better profit outlook for the oil producer.
• Positive Sentiment: Diamondback is also benefiting from broader optimism around oil prices, including commentary from Exxon that points to potentially very strong Permian Basin economics if crude remains elevated.
• Positive Sentiment: Recent analyst coverage remains constructive overall, with the stock carrying a “Moderate Buy” consensus and several firms maintaining bullish targets.
• Neutral Sentiment: Jim Cramer highlighted Diamondback as a name on his radar among oil stocks, which may increase visibility but does not change fundamentals by itself. Diamondback Energy (FANG) Is On Jim Cramer’s Radar When It Comes To Oil Stocks
• Neutral Sentiment: Multiple insider sales by executives, including EVP Matt Zmigrosky and CAO Teresa L. Dick, may weigh on sentiment slightly, though these sales appear to be relatively routine after the stock’s strong run. SEC filing for Matt Zmigrosky sale SEC filing for Teresa L. Dick sale
• Negative Sentiment: One article notes Diamondback is still down modestly since its last earnings report, reflecting some investor caution despite the company’s solid quarterly beat.

Insider Transactions at Diamondback Energy

In other news, EVP Matt Zmigrosky sold 20,899 shares of the company's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $180.00, for a total value of $3,761,820.00. Following the completion of the transaction, the executive vice president owned 60,493 shares of the company's stock, valued at $10,888,740. This represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Teresa L. Dick sold 7,000 shares of the company'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 completion of the transaction, the chief accounting officer directly owned 85,755 shares of the company's stock, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 186,321 shares of company stock valued at $34,499,475. 0.64% of the stock is owned by corporate insiders.

Diamondback Energy 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.

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