Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Amalgamated Bank

Amalgamated Bank increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,410 shares of the oil and natural gas company’s stock after buying an additional 2,912 shares during the quarter. Amalgamated Bank’s holdings in Diamondback Energy were worth $7,973,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FANG. Coldstream Capital Management Inc. grew its position in Diamondback Energy by 1.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock valued at $566,000 after buying an additional 64 shares in the last quarter. MCF Advisors LLC boosted its holdings in shares of Diamondback Energy by 8.6% in the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after acquiring an additional 67 shares in the last quarter. Veracity Capital LLC increased its stake in shares of Diamondback Energy by 3.5% during the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock valued at $319,000 after acquiring an additional 70 shares during the period. Bleakley Financial Group LLC raised its holdings in Diamondback Energy by 2.5% during the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after purchasing an additional 75 shares in the last quarter. Finally, Simplicity Solutions LLC lifted its position in Diamondback Energy by 2.5% in the fourth quarter. Simplicity Solutions LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after purchasing an additional 75 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

Shares of FANG opened at $201.50 on Friday. The business’s 50-day moving average is $195.49 and its 200-day moving average is $170.81. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.74. The company has a market capitalization of $35.94 billion, a price-to-earnings ratio of 11.36 and a beta of 1.91. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96.

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

Diamondback Energy Cuts Dividend

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

Analyst Ratings Changes

FANG has been the topic of a number of research reports. Evercore ISI boosted their price objective on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Monday, March 4th. Bank of America raised shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and increased their target price for the company from $129.00 to $170.00 in a research note on Monday, February 12th. StockNews.com raised Diamondback Energy from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Raymond James reduced their price objective on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and an average price target of $204.37.

Insiders Place Their Bets

In other news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the completion of the sale, the chief financial officer now directly owns 185,882 shares in the company, valued at approximately $35,470,003.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the transaction, the chief financial officer now owns 185,882 shares in the company, valued at approximately $35,470,003.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock valued at $11,311,096 in the last three months. Insiders own 0.43% of the company’s stock.

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.