PNC Financial Services Group Inc. Grows Stake in Diamondback Energy, Inc. $FANG

PNC Financial Services Group Inc. raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.6% during the 4th quarter, HoldingsChannel reports. The firm owned 56,475 shares of the oil and natural gas company’s stock after acquiring an additional 2,989 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Diamondback Energy were worth $8,490,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FANG. Smead Capital Management Inc. purchased a new position in Diamondback Energy in the second quarter valued at about $144,775,000. Capital Research Global Investors raised its position in Diamondback Energy by 38.0% in the third quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company’s stock valued at $543,610,000 after purchasing an additional 1,046,398 shares during the period. Balyasny Asset Management L.P. increased its position in shares of Diamondback Energy by 2,637.8% during the third quarter. Balyasny Asset Management L.P. now owns 456,686 shares of the oil and natural gas company’s stock worth $65,352,000 after acquiring an additional 440,005 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Diamondback Energy by 1,127.8% during the third quarter. Two Sigma Investments LP now owns 369,568 shares of the oil and natural gas company’s stock worth $52,885,000 after acquiring an additional 339,468 shares during the last quarter. Finally, Ninepoint Partners LP purchased a new stake in shares of Diamondback Energy during the third quarter worth about $45,076,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $200.71 on Monday. The company has a market capitalization of $56.46 billion, a price-to-earnings ratio of 233.39 and a beta of 0.46. Diamondback Energy, Inc. has a one year low of $133.75 and a one year high of $214.51. The stock has a 50-day simple moving average of $194.16 and a 200 day simple moving average of $170.09. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $4.54 earnings per share. Sell-side analysts predict that Diamondback Energy, Inc. will post 19.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a $1.10 dividend. The ex-dividend date was Thursday, May 14th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy’s payout ratio is presently 511.63%.

Key Stories Impacting Diamondback Energy

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

• Positive Sentiment: Oil prices remain elevated, which is helping Permian Basin producers like Diamondback Energy. One article noted that higher WTI and more gas production per barrel could be a tailwind for FANG’s revenue and cash flow. Article link
• Positive Sentiment: Broader energy coverage also highlighted Diamondback as a beneficiary if oil supply stays tight, with commentary suggesting U.S. energy stocks could continue to outperform as global reserves are drawn down. Article link
• Neutral Sentiment: Diamondback’s recent earnings beat and dividend increase continue to support the stock’s fundamental case, but these were already known from the company’s latest quarterly report and are not new catalysts.
• Negative Sentiment: Diamondback CAO Teresa L. Dick sold 5,000 shares at $207 each, which can weigh on investor sentiment because insider selling is often viewed cautiously. SEC Form 4 filing
• Negative Sentiment: Zacks Research trimmed several near- and medium-term earnings estimates for FANG, including Q2 2027, Q3 2027, Q1 2028 and FY2028, signaling somewhat softer expectations even though the firm kept a Strong-Buy rating. Zacks analyst note

Insider Buying and Selling

In other Diamondback Energy news, Director Charles Alvin Meloy sold 7,857 shares of Diamondback Energy stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $183.27, for a total value of $1,439,952.39. Following the completion of the transaction, the director directly owned 974,149 shares in the company, valued at $178,532,287.23. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Matt Zmigrosky sold 20,899 shares of Diamondback Energy stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $180.00, for a total value of $3,761,820.00. Following the completion of the transaction, the executive vice president owned 60,493 shares of the company’s stock, valued at approximately $10,888,740. The trade was a 25.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 174,321 shares of company stock valued at $32,090,475 over the last 90 days. 0.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FANG. Wells Fargo & Company lifted their target price on Diamondback Energy from $202.00 to $262.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Morgan Stanley lifted their target price on Diamondback Energy from $224.00 to $229.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho lifted their target price on Diamondback Energy from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Piper Sandler lifted their target price on Diamondback Energy from $215.00 to $248.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Finally, Benchmark lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Five research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $221.84.

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.