Elevation Point Wealth Partners LLC Purchases Shares of 8,530 Diamondback Energy, Inc. $FANG

Key Points

• Elevation Point Wealth Partners initiated a new stake in Diamondback Energy, buying 8,530 shares worth about $1.69 million in the first quarter.
• Analysts turned slightly more optimistic on Diamondback’s future earnings, with Zacks Research raising estimates for several upcoming years, though it kept the stock at a Hold rating.
• Diamondback reported better-than-expected quarterly results, beating EPS and revenue estimates, and also raised its dividend to $1.10 per share quarterly from $1.05.

Elevation Point Wealth Partners LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,530 shares of the oil and natural gas company's stock, valued at approximately $1,687,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Deseret Mutual Benefit Administrators raised its stake in Diamondback Energy by 31.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company's stock worth $41,000 after acquiring an additional 66 shares during the last quarter. Scotia Capital Inc. grew its stake in Diamondback Energy by 0.3% during the 3rd quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company's stock valued at $2,822,000 after purchasing an additional 68 shares during the last quarter. Townsend & Associates Inc grew its stake in Diamondback Energy by 0.5% during the 4th quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company's stock valued at $2,161,000 after purchasing an additional 75 shares during the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of Diamondback Energy by 2.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company's stock valued at $410,000 after purchasing an additional 78 shares during the period. Finally, Fulton Bank N.A. increased its holdings in shares of Diamondback Energy by 1.8% in the fourth quarter. Fulton Bank N.A. now owns 4,400 shares of the oil and natural gas company's stock valued at $661,000 after purchasing an additional 78 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Diamondback Energy

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

• Positive Sentiment: Zacks Research raised Diamondback Energy’s earnings estimates for FY2026, FY2027, FY2028 and several quarters in 2027-2028, signaling slightly improved profit expectations. Diamondback Energy analyst estimate update
• Neutral Sentiment: The firm kept its rating at Hold, which limits the bullish impact of the upgraded estimates. Diamondback Energy analyst estimate update
• Neutral Sentiment: Separate news showed Diamondback subsidiary Viper Energy completed its $337 million Riverbend mineral and royalty acquisition, a strategic expansion in the Permian Basin but not a direct earnings upgrade for FANG itself. Viper Energy acquisition completion

Diamondback Energy Stock Performance

Shares of FANG stock opened at $172.04 on Monday. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. The stock has a market cap of $48.40 billion, a PE ratio of 200.05 and a beta of 0.42. The business has a 50-day simple moving average of $193.52 and a 200-day simple moving average of $178.33.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping the consensus estimate of $3.74 by $0.49. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.Diamondback Energy's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $4.54 earnings per share. On average, equities analysts expect that Diamondback Energy, Inc. will post 19.47 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $1.10 dividend. The ex-dividend date was Thursday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.6%. This is a boost from Diamondback Energy's previous quarterly dividend of $1.05. Diamondback Energy's payout ratio is currently 511.63%.

Insider Activity

In related news, Director Charles Alvin Meloy sold 83,334 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total value of $15,593,458.08. Following the completion of the transaction, the director directly owned 851,530 shares in the company, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the sale, the executive vice president directly owned 46,392 shares in the company, valued at $9,303,451.68. This trade represents a 9.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 113,691 shares of company stock worth $21,622,752 over the last 90 days. Company insiders own 0.64% of the company's stock.

Analysts Set New Price Targets

FANG has been the subject of a number of research reports. Zacks Research downgraded Diamondback Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 28th. Barclays increased their price target on shares of Diamondback Energy from $225.00 to $232.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Wells Fargo & Company set a $212.00 price target on shares of Diamondback Energy in a research report on Monday, June 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Diamondback Energy in a research note on Wednesday, May 27th. Finally, Roth Mkm set a $212.00 price objective on shares of Diamondback Energy and gave the company a "buy" rating in a report on Monday, June 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $220.68.

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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