Diamondback Energy, Inc.

(NASDAQ Global Select)
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Somewhat Bullish +45

Carmel Capital Partners LLC Makes New $593,000 Investment in ...

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πŸ“ˆ Carmel Capital Partners LLC acquired 3,000 shares of Diamondback Energy valued at approximately $593,000 in the first quarter.

πŸ“Š Boston Partners increased its stake by 2.9% to own 5,733,538 shares worth $821.6 million following a purchase of 163,548 additional shares.

🏦 Geode Capital Management LLC lifted its position by 0.3% to hold 5,621,120 shares valued at $844.1 million after buying 14,625 shares.

πŸ“ˆ Bank of New York Mellon Corp boosted its holdings by 11.5% to own 5,159,365 shares worth $775.6 million.

πŸ“ˆ Capital Research Global Investors increased its stake by 14.1% to hold 4,332,885 shares valued at $651.4 million.

πŸ“ˆ Morgan Stanley grew its position by 3.2% to own 3,828,941 shares worth $575.6 million after purchasing 117,798 shares.

🏒 Institutional investors collectively own 90.01% of Diamondback Energy's outstanding stock.

πŸ’° The company declared a quarterly dividend of $1.10 per share paid on May 21st, representing an increase from the previous quarter's $1.05 payout.

πŸ“‰ CAO Teresa L. Dick sold 7,000 shares for $1.4 million, reducing her ownership by 7.55% in a transaction on June 2nd.

πŸ“‰ Director Charles Alvin Meloy sold 83,334 shares for $15.6 million on June 16th under a pre-arranged Rule 10b5-1 trading plan.

πŸ“‰ Insiders sold a total of 113,691 shares worth $21.6 million in the last quarter, leaving 0.64% of stock owned by insiders.

πŸ“‰ Zacks Research downgraded Diamondback Energy from a 'strong-buy' rating to a 'hold' rating in a report on May 28th.

πŸ“ˆ Morgan Stanley reduced its price target from $229.00 to $216.00 but maintained an 'overweight' rating in a June 29th report.

πŸ“ˆ KeyCorp raised its price objective from $196.00 to $225.00 and assigned an 'overweight' rating in an April 2nd report.

πŸ“ˆ Roth Capital set a $212.00 price objective with a 'buy' rating in a June 22nd research report.

πŸ“ˆ Truist Financial set a $242.00 target price for Diamondback Energy in a May 6th note.

πŸ“Š The consensus analyst rating is 'Buy' with an average target price of $220.68 based on data from MarketBeat.

πŸ“ˆ Diamondback Energy has a market cap of $51.59 billion, a P/E ratio of 213.25, and a beta of 0.42.

πŸ“‰ The stock currently trades above its 200-day simple moving average of $179.24 but below its 50-day average of $191.80.

πŸ’Έ The company has a current ratio of 0.56, a quick ratio of 0.55, and a debt-to-equity ratio of 0.31.

πŸ“‰ Diamondback Energy's stock has a 12-month low of $134.30 and a 12-month high of $214.51.

Bullish Signals
  • Major institutional investors including Boston Partners, Geode Capital Management, Bank of New York Mellon, Capital Research Global Investors, and Morgan Stanley have all increased their stakes in the company during recent quarters.
  • The company recently increased its quarterly dividend from $1.05 to $1.10 per share, resulting in an annualized yield of 2.4%.
  • Institutional ownership stands at a high 90.01%, indicating strong confidence from large capital managers.
  • Despite one downgrade, the consensus analyst rating remains 'Buy' with an average price target of $220.68.
  • The stock is trading above its long-term 200-day moving average of $179.24.
Risk Factors
  • Zacks Research downgraded the stock from a 'strong-buy' rating to a 'hold' rating in May.
  • Morgan Stanley reduced its price target from $229.00 to $216.00, signaling a more cautious outlook.
  • Insiders sold a significant total of 113,691 shares worth $21.6 million in the last quarter, including sales by the CAO and a Director.
  • The stock trades below its 50-day simple moving average of $191.80.
  • The company has a high P/E ratio of 213.25, which may indicate overvaluation relative to current earnings.
Full Analysis
Carmel Capital Partners LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ: FANG) during the first quarter, purchasing 3,000 shares valued at approximately $593,000 per its latest SEC Form 13F filing. Several other major institutional investors also adjusted their positions recently, with Boston Partners increasing holdings by 2.9% to own roughly $821.6 million, Geode Capital Management lifting its stake by 0.3% to a value of $844.1 million, and Bank of New York Mellon boosting its position by 11.5%. Capital Research Global Investors increased its holdings by 14.1% to own shares worth $651.4 million, while Morgan Stanley grew its position by 3.2% to a value of $575.6 million. Collectively, institutional investors now own 90.01% of the company's outstanding stock. The article notes that NASDAQ FANG opened at $183.39 on Friday with a market capitalization of $51.59 billion and a P/E ratio of 213.25. Diamondback Energy recently declared a quarterly dividend paid on May 21st to investors of record on May 14th, amounting to $1.10 per share. This represents an increase from the previous quarterly dividend of $1.05, resulting in an annualized yield of 2.4% and a payout ratio of 511.63%. The company is an independent oil and natural gas firm focused on developing unconventional resources in the Permian Basin. Insider trading activity saw CAO Teresa L. Dick sell 7,000 shares for $1.4 million and Director Charles Alvin Meloy sell 83,334 shares for $15.6 million under a pre-arranged Rule 10b5-1 plan, totaling insider sales of over $21.6 million in the last quarter. Analyst sentiment remains mixed but generally positive, with Zacks Research downgrading the stock to a 'hold' while Morgan Stanley, KeyCorp, Roth Capital, and Truist Financial maintain buy or overweight ratings with average target prices around $220.68.