Strs Ohio Cuts Holdings in Diamondback Energy, Inc. $FANG

Strs Ohio lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 17.9% during the first quarter, Holdings Channel.com reports. The fund 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.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators raised its holdings in shares of Diamondback Energy by 31.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock worth $41,000 after purchasing an additional 66 shares during the period. Scotia Capital Inc. grew its holdings in shares of Diamondback Energy by 0.3% during the 3rd quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after purchasing an additional 68 shares during the period. Townsend & Associates Inc grew its holdings in shares of Diamondback Energy by 0.5% during the 4th quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock worth $2,161,000 after purchasing an additional 75 shares during the period. 180 Wealth Advisors LLC increased its position in Diamondback Energy by 2.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock worth $410,000 after purchasing an additional 78 shares in the last quarter. Finally, Fulton Bank N.A. increased its position in Diamondback Energy by 1.8% during the 4th quarter. Fulton Bank N.A. now owns 4,400 shares of the oil and natural gas company’s stock worth $661,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on FANG shares. Wells Fargo & Company set a $212.00 price target on shares of Diamondback Energy in a research report on Monday, June 22nd. Truist Financial set a $242.00 price objective on shares of Diamondback Energy in a research report on Wednesday, May 6th. Zacks Research downgraded shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. UBS Group lifted their target price on shares of Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, April 10th. Finally, KeyCorp upped their price target on shares of Diamondback Energy from $196.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Five analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $220.68.

Insider Activity

In other Diamondback Energy 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 value of $1,406,300.00. Following the completion of the transaction, the chief accounting officer directly 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 filing with the SEC, which is available at the SEC website. Also, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the transaction, the executive vice president directly owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 121,548 shares of company stock valued at $23,146,460 in the last 90 days. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $172.04 on Friday. The firm has a market capitalization of $48.40 billion, a PE 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. The stock’s 50 day moving average price is $193.52 and its 200 day moving average price is $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.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.74 by $0.49. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $4.54 earnings per share. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 19.47 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s dividend payout ratio (DPR) is 511.63%.

Trending Headlines about Diamondback Energy

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.