Amalgamated Bank Purchases 2,912 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Amalgamated Bank boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 51,410 shares of the oil and natural gas company’s stock after buying an additional 2,912 shares during the period. Amalgamated Bank’s holdings in Diamondback Energy were worth $7,973,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of Diamondback Energy by 4.8% during the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after acquiring an additional 648,317 shares during the period. Morgan Stanley raised its stake in shares of Diamondback Energy by 2.6% in the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock valued at $541,175,000 after purchasing an additional 89,663 shares during the period. Invesco Ltd. lifted its holdings in shares of Diamondback Energy by 6.6% in the third quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock valued at $514,289,000 after purchasing an additional 206,189 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Diamondback Energy by 39.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock worth $465,817,000 after buying an additional 858,446 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Diamondback Energy by 0.6% during the third quarter. Northern Trust Corp now owns 1,999,579 shares of the oil and natural gas company’s stock worth $309,695,000 after buying an additional 12,237 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $201.50 on Friday. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $211.96. The firm has a market capitalization of $35.94 billion, a PE ratio of 11.36 and a beta of 1.91. The firm has a fifty day simple moving average of $195.49 and a two-hundred day simple moving average of $170.81. The company has a current ratio of 0.92, a quick ratio of 0.74 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.21. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.10 EPS. Analysts forecast that Diamondback Energy, Inc. will post 18.91 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.79%. The ex-dividend date is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FANG shares. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $129.00 to $170.00 in a research report on Monday, February 12th. Stifel Nicolaus lifted their price target on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Susquehanna raised their price objective on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Mizuho increased their price target on Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, Piper Sandler upped their target price on shares of Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.37.

Insiders Place Their Bets

In other news, VP Jere W. Thompson III sold 2,675 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total value of $514,536.25. Following the completion of the sale, the vice president now owns 8,485 shares in the company, valued at $1,632,089.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Jere W. Thompson III sold 2,675 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the completion of the transaction, the vice president now directly owns 8,485 shares of the company’s stock, valued at $1,632,089.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the sale, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock valued at $11,311,096 in the last three months. 0.43% of the stock is currently owned by insiders.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.