Kentucky Farm Bureau Mutual Insurance Co Makes New Investment in Diamondback Energy, Inc. $FANG

Key Points

• Kentucky Farm Bureau Mutual Insurance Co. acquired 12,608 Diamondback Energy shares valued at approximately $2.2 million in the second quarter. Institutional investors collectively own 90.01% of FANG’s outstanding stock.
• Diamondback Energy exceeded quarterly expectations, reporting $6.48 EPS versus the $6.08 consensus and $5.56 billion in revenue, up 51.2% year over year. The company also declared a $1.10 quarterly dividend, equivalent to a 2.1% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $222.21, while insiders sold roughly $24.7 million of stock over the past three months.

Kentucky Farm Bureau Mutual Insurance Co acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,608 shares of the oil and natural gas company's stock, valued at approximately $2,216,000.

Other large investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC purchased a new position in shares of Diamondback Energy during the first quarter worth $26,000. Meeder Asset Management Inc. purchased a new stake in Diamondback Energy in the second quarter valued at $28,000. Laurel Wealth Advisors LLC acquired a new stake in Diamondback Energy during the 4th quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in Diamondback Energy during the 3rd quarter worth about $26,000. Finally, Wellington Shields & Co. LLC raised its stake in shares of Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock valued at $28,000 after buying an additional 135 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Down 0.7%

Shares of Diamondback Energy stock opened at $208.55 on Thursday. The firm has a 50-day simple moving average of $191.03 and a two-hundred day simple moving average of $188.74. The company has a market cap of $58.40 billion, a P/E ratio of 40.65 and a beta of 0.43. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the company posted $2.38 EPS. The company's revenue for the quarter was up 51.2% on a year-over-year basis. As a group, equities analysts predict that Diamondback Energy, Inc. will post 19.3 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

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

Analysts Set New Price Targets

FANG has been the subject of several analyst reports. Barclays decreased their price objective on Diamondback Energy from $232.00 to $221.00 and set an "overweight" rating for the company in a report on Monday. Sanford C. Bernstein raised their target price on Diamondback Energy from $237.00 to $241.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Weiss Ratings upgraded Diamondback Energy from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Jefferies Financial Group reissued a "hold" rating and issued a $205.00 price target on shares of Diamondback Energy in a report on Sunday, August 9th. Finally, Scotiabank upped their price objective on Diamondback Energy from $175.00 to $195.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $222.21.

Insiders Place Their Bets

In other news, Director Charles Alvin Meloy sold 33,333 shares of the company's stock in a transaction that occurred on 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 directly owned 818,197 shares of the company's stock, valued at $162,338,466.77. This represents a 3.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director directly owned 13,437 shares of the company's stock, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 129,167 shares of company stock valued at $24,714,309 in the last three months. 0.64% of the stock is currently owned by company insiders.

Diamondback Energy News Roundup

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

• Positive Sentiment: Morgan Stanley reaffirmed its Equal Weight rating but raised or maintained a $216 price target, implying modest upside from the referenced price. The target provides some support, though the neutral rating limits the bullish signal. Morgan Stanley rating report
• Positive Sentiment: Zacks Research increased its FY2028 EPS forecast to $15.37 from $14.83, suggesting potential longer-term earnings improvement. Diamondback Energy valuation and pipeline venture article
• Neutral Sentiment: Analysts continue to rate FANG Hold or Equal Weight, indicating neither a strong bullish nor bearish consensus. Diamondback’s Permian-to-Katy gas pipeline strategy and participation in the Solitude Pipeline venture could broaden its midstream exposure, but the investment benefits remain dependent on execution and future cash flows. Diamondback Permian-to-Katy gas pipeline article
• Negative Sentiment: Zacks Research cut several near- and medium-term forecasts: Q3 2026 EPS to $2.70 from $4.32, Q4 2026 to $3.11 from $4.19, FY2026 to $16.52 from $18.11, FY2027 to $14.95 from $16.42, Q4 2027 to $3.08 from $3.87, and Q1 2028 to $3.12 from $3.57. Additional reductions affected Q2 and Q3 2027 estimates. These revisions outweigh the isolated FY2028 increase and are likely pressuring the stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source