Strs Ohio Reduces Stock Position in Diamondback Energy, Inc. $FANG

Key Points

• Strs Ohio reduced its Diamondback Energy stake by 17.9% in the first quarter, selling 18,389 shares and ending with 84,107 shares worth about $16.6 million.
• Diamondback beat quarterly expectations, reporting EPS of $4.23 versus the $3.74 consensus and revenue of $4.24 billion, while also raising its quarterly dividend to $1.10 per share from $1.05.
• Wall Street remains broadly positive on the stock, with analysts assigning an average “Buy” rating and a target price of $220.68, even as some insiders recently sold shares.

Strs Ohio decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 17.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,107 shares of the oil and natural gas company's stock after selling 18,389 shares during the quarter. Strs Ohio's holdings in Diamondback Energy were worth $16,636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners raised its holdings in Diamondback Energy by 2.9% during the third quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company's stock worth $821,649,000 after purchasing an additional 163,548 shares during the last quarter. Geode Capital Management LLC grew its holdings in Diamondback Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company's stock valued at $844,073,000 after purchasing an additional 14,625 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Diamondback Energy by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company's stock valued at $775,607,000 after purchasing an additional 532,756 shares during the last quarter. Capital Research Global Investors increased 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 buying an additional 534,073 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Diamondback Energy by 3.2% in the fourth quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company's stock valued at $575,605,000 after buying an additional 117,798 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Price Performance

FANG stock opened at $172.04 on Friday. The company has a 50 day moving average price of $193.52 and a two-hundred day moving average price of $178.16. 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 stock has a market capitalization of $48.40 billion, a P/E ratio of 200.05 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.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping 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 company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the company posted $4.54 EPS. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 19.47 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $1.10 per share. 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. The ex-dividend date was Thursday, May 14th. Diamondback Energy's dividend payout ratio (DPR) is currently 511.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Mizuho boosted their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Raymond James Financial restated a "strong-buy" rating and set a $249.00 target price on shares of Diamondback Energy in a report on Wednesday, June 10th. Weiss Ratings restated a "hold (c)" rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Wells Fargo & Company set a $212.00 price target on shares of Diamondback Energy in a report on Monday, June 22nd. Finally, Roth Mkm set a $212.00 price target on shares of Diamondback Energy and gave the company a "buy" rating in a research report on Monday, June 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Diamondback Energy currently has an average rating of "Buy" and an average target price of $220.68.

Insiders Place Their Bets

In other news, CAO Teresa L. Dick sold 7,000 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer owned 85,755 shares of the company's stock, valued at $17,228,179.50. This represents a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 46,392 shares in the company, valued at approximately $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 121,548 shares of company stock valued at $23,146,460 in the last quarter. Corporate insiders own 0.64% of the company's stock.

Key Diamondback Energy News

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 Company 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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