Diamondback Energy, Inc. $FANG Shares Purchased by Sanctuary Advisors LLC

Key Points

• Sanctuary Advisors LLC increased its Diamondback Energy position by 14.2% in the first quarter, buying 5,243 additional shares for a total of 42,069 shares valued at about $8.3 million.
• Diamondback Energy posted a strong quarterly earnings beat, reporting $4.23 EPS versus the $3.74 estimate and revenue of $4.24 billion, above expectations of $3.83 billion.
• The company also raised its quarterly dividend to $1.10 per share from $1.05, while analysts currently rate the stock a consensus “Buy” with an average target price of $219.53.

Sanctuary Advisors LLC boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 14.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,069 shares of the oil and natural gas company's stock after purchasing an additional 5,243 shares during the quarter. Sanctuary Advisors LLC's holdings in Diamondback Energy were worth $8,321,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FANG. Wellington Management Group LLP boosted its position in shares of Diamondback Energy by 74.1% in the 4th quarter. Wellington Management Group LLP now owns 3,239,837 shares of the oil and natural gas company's stock worth $487,045,000 after buying an additional 1,379,010 shares in the last quarter. EnCap Energy Capital Fund XII L.P. acquired a new position in Diamondback Energy during the fourth quarter worth about $169,342,000. Smead Capital Management Inc. acquired a new position in Diamondback Energy during the second quarter worth about $144,775,000. Encompass Capital Advisors LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at about $112,198,000. Finally, Capital Research Global Investors grew 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 purchasing an additional 534,073 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In other news, Director Charles Alvin Meloy sold 83,334 shares of the business's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the sale, the director owned 851,530 shares in the company, valued at approximately $159,338,293.60. The trade was a 8.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the transaction, the director owned 13,437 shares in the company, valued at $2,640,370.50. The trade was a 3.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 113,691 shares of company stock valued at $21,622,752. 0.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FANG has been the subject of a number of recent research reports. Susquehanna raised their price objective on shares of Diamondback Energy from $231.00 to $245.00 and gave the stock a "positive" rating in a research note on Wednesday, May 6th. Truist Financial lowered their target price on Diamondback Energy from $242.00 to $220.00 and set a "buy" rating on the stock in a report on Thursday. Roth Capital set a $212.00 price target on Diamondback Energy and gave the stock a "buy" rating in a report on Monday, June 22nd. Scotiabank upped their price objective on Diamondback Energy from $175.00 to $195.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Finally, Zacks Research lowered Diamondback Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 28th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $219.53.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $195.54 on Friday. 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 $55.01 billion, a price-to-earnings ratio of 227.37 and a beta of 0.42. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51. The company has a 50 day moving average price of $191.24 and a 200 day moving average price of $180.78.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.54 EPS. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 19.14 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a $1.10 dividend. This is a positive change from Diamondback Energy's previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. Diamondback Energy's dividend payout ratio (DPR) is 511.63%.

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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