Swedbank AB Sells 6,760 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Swedbank AB sold 6,760 shares, trimming its stake by 3.2% to 202,735 shares (about 0.07% of the company) valued at roughly $30.48 million, while institutional ownership stands near 90.01%.
• Diamondback beat quarterly estimates with EPS of $4.23 (vs. $3.74 est.) and revenue of $4.24B (vs. $3.83B), and raised its quarterly dividend to $1.10 (annual $4.40, yield ~2.3%).
• Analysts are largely bullish—several firms raised price targets (consensus ~$215.70)—but insiders have sold about 156,464 shares (≈$28.6M) over the past 90 days.

Swedbank AB trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,735 shares of the oil and natural gas company's stock after selling 6,760 shares during the quarter. Swedbank AB owned about 0.07% of Diamondback Energy worth $30,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Flagship Harbor Advisors LLC bought a new position in shares of Diamondback Energy in the 4th quarter worth about $25,000. Richardson Financial Services Inc. increased its stake in shares of Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company's stock worth $26,000 after acquiring an additional 125 shares in the last quarter. Laurel Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the 4th quarter worth about $26,000. JPL Wealth Management LLC bought a new position in shares of Diamondback Energy in the 3rd quarter worth about $26,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Diamondback Energy by 106.3% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company's stock worth $28,000 after acquiring an additional 102 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Down 2.5%

NASDAQ:FANG opened at $190.30 on Friday. The firm has a market cap of $53.53 billion, a P/E ratio of 221.28 and a beta of 0.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.40 and a current ratio of 0.56. Diamondback Energy, Inc. has a fifty-two week low of $130.48 and a fifty-two week high of $214.51. The firm has a 50-day simple moving average of $188.80 and a two-hundred day simple moving average of $165.63.

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 earnings per share for the quarter, beating analysts' consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. Diamondback Energy's revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $4.54 EPS. Analysts predict that Diamondback Energy, Inc. will post 18.86 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, May 14th. This is a boost from Diamondback Energy's previous quarterly dividend of $1.05. Diamondback Energy's payout ratio is 488.37%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Diamondback Energy from $215.00 to $248.00 and gave the stock an "overweight" rating in a research note on Thursday, March 12th. Raymond James Financial restated a "strong-buy" rating and set a $242.00 price objective on shares of Diamondback Energy in a research note on Monday, April 27th. Citigroup raised their price objective on shares of Diamondback Energy from $178.00 to $230.00 and gave the company a "buy" rating in a research note on Monday, March 30th. Susquehanna raised their price objective on shares of Diamondback Energy from $231.00 to $245.00 and gave the company a "positive" rating in a research note on Wednesday. Finally, UBS Group raised their price objective on shares of Diamondback Energy from $240.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, April 10th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $215.70.

Insider Activity

In other news, CFO Jere W. Thompson III sold 750 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $182.47, for a total transaction of $136,852.50. Following the sale, the chief financial officer owned 19,975 shares of the company's stock, valued at $3,644,838.25. This trade represents a 3.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Matt Zmigrosky sold 4,101 shares of the firm's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $190.51, for a total transaction of $781,281.51. Following the sale, the executive vice president directly owned 56,392 shares in the company, valued at approximately $10,743,239.92. The trade was a 6.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 156,464 shares of company stock worth $28,568,431. 0.64% of the stock is owned by corporate insiders.

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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