Diamondback Energy, Inc. $FANG Shares Bought by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management increased its Diamondback Energy stake by 35.6% in the fourth quarter, adding 129,603 shares to bring its total holdings to 493,958 shares worth about $74.3 million.
• Insider selling continued, with CAO Teresa L. Dick and EVP Matt Zmigrosky both selling shares in recent months; company insiders sold 121,548 shares worth $23.1 million over the last 90 days.
• Diamondback Energy reported better-than-expected quarterly earnings of $4.23 per share on revenue of $4.24 billion, while also raising its quarterly dividend to $1.10 per share and lifting the annualized payout to $4.40.

Rockefeller Capital Management L.P. raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 35.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 493,958 shares of the oil and natural gas company's stock after buying an additional 129,603 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.18% of Diamondback Energy worth $74,257,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Meadowbrook Advisors Group LLC purchased a new position in Diamondback Energy in the fourth quarter valued at $377,000. Corient Private Wealth LLC grew its stake in Diamondback Energy by 5.5% during the 4th quarter. Corient Private Wealth LLC now owns 38,871 shares of the oil and natural gas company's stock worth $5,844,000 after purchasing an additional 2,036 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Diamondback Energy by 16.3% during the 4th quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company's stock worth $50,890,000 after purchasing an additional 47,450 shares during the period. Tulsa Wealth Advisors INC purchased a new stake in Diamondback Energy during the 4th quarter worth about $973,000. Finally, Tobam raised its position in Diamondback Energy by 3,426.7% in the 4th quarter. Tobam now owns 6,595 shares of the oil and natural gas company's stock valued at $991,000 after purchasing an additional 6,408 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insiders Place Their Bets

In other news, CAO Teresa L. Dick sold 7,000 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $200.10, for a total transaction of $1,000,500.00. Following the sale, the executive vice president owned 51,392 shares of the company's stock, valued at $10,283,539.20. This represents a 8.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 121,548 shares of company stock valued at $23,146,460. 0.64% of the stock is owned by company insiders.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $183.50 on Friday. The company has a market capitalization of $51.62 billion, a price-to-earnings ratio of 213.37 and a beta of 0.42. 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 business has a 50-day moving average of $195.03 and a two-hundred day moving average of $176.66. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the business posted $4.54 EPS. The business's revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts forecast that Diamondback Energy, Inc. will post 19.92 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Diamondback Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy's dividend payout ratio is currently 511.63%.

Analyst Ratings Changes

A number of equities analysts have recently commented on FANG shares. Piper Sandler boosted their price objective on Diamondback Energy from $215.00 to $248.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. Mizuho raised their target price on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. KeyCorp lifted their price target on shares of Diamondback Energy from $196.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, April 2nd. Zacks Research cut shares of Diamondback Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 28th. Finally, 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 research report on Wednesday, May 20th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Diamondback Energy has a consensus rating of "Moderate Buy" and a consensus price target of $223.63.

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.

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