Danske Bank A S Takes $1.11 Million Position in Diamondback Energy, Inc. $FANG

Key Points

• Danske Bank initiated a $1.11 million position in Diamondback Energy during the second quarter by purchasing 6,305 shares. Institutional investors collectively own approximately 90.01% of FANG.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $222.21, despite mixed target-price revisions.
• Diamondback exceeded quarterly expectations, reporting $6.48 in EPS and $5.56 billion in revenue, while maintaining a quarterly dividend of $1.10 per share, equivalent to a 2.1% annualized yield.

Danske Bank A S purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,305 shares of the oil and natural gas company's stock, valued at approximately $1,108,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators raised its holdings in 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 valued at $41,000 after acquiring an additional 66 shares during the period. Scotia Capital Inc. lifted its position in shares of 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 acquiring an additional 68 shares in the last quarter. Capital Financial Group Inc. Co. ADV boosted its holdings in shares of Diamondback Energy by 2.1% in the first 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 during the period. Physician Wealth Advisors Inc. boosted its holdings in shares of Diamondback Energy by 40.0% in the fourth 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 position in shares of Diamondback Energy by 0.5% in the third quarter. Kestra Private Wealth Services LLC now owns 17,564 shares of the oil and natural gas company's stock valued at $2,513,000 after purchasing an additional 86 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Charles Alvin Meloy sold 33,333 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the completion of the transaction, the director owned 818,197 shares of the company's stock, valued at approximately $162,338,466.77. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 directly owned 85,755 shares of the company's stock, valued at $17,228,179.50. The trade was a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 129,167 shares of company stock worth $24,714,309. 0.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays decreased their price objective on Diamondback Energy from $232.00 to $221.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. Jefferies Financial Group restated a "hold" rating and issued a $205.00 target price on shares of Diamondback Energy in a research note on Sunday, August 9th. Susquehanna lifted their target price on Diamondback Energy from $245.00 to $255.00 and gave the company a "positive" rating in a report on Tuesday, July 21st. Morgan Stanley reiterated an "equal weight" rating and set a $216.00 price target on shares of Diamondback Energy in a research report on Wednesday. Finally, Wall Street Zen raised shares of Diamondback Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $222.21.

Diamondback Energy Stock Down 0.1%

FANG opened at $210.72 on Friday. The firm has a market capitalization of $59.01 billion, a P/E ratio of 41.08 and a beta of 0.43. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $216.90. The company has a fifty day moving average price of $191.79 and a 200-day moving average price of $189.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.08 by $0.40. The company had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The firm's revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.38 earnings per share. Equities research analysts expect that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

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

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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