Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Invst LLC

Invst LLC lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,879 shares of the oil and natural gas company’s stock after selling 230 shares during the quarter. Invst LLC’s holdings in Diamondback Energy were worth $790,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FANG. Price T Rowe Associates Inc. MD lifted its stake in shares of Diamondback Energy by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares in the last quarter. Boston Partners lifted its stake in shares of Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after acquiring an additional 1,916,900 shares in the last quarter. Homestead Advisers Corp acquired a new position in shares of Diamondback Energy in the first quarter worth about $87,940,000. Bank of New York Mellon Corp lifted its stake in shares of Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after acquiring an additional 415,902 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Diamondback Energy by 280.8% in the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock worth $109,144,000 after acquiring an additional 402,026 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on FANG shares. Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. UBS Group cut their price target on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley boosted their price target on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Truist Financial cut their price target on Diamondback Energy from $255.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Wolfe Research began coverage on Diamondback Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $207.76.

Diamondback Energy Stock Up 1.0 %

NASDAQ:FANG opened at $172.40 on Tuesday. Diamondback Energy, Inc. has a 52 week low of $143.08 and a 52 week high of $214.50. The firm has a market capitalization of $30.75 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89. The stock has a 50 day moving average of $188.52 and a 200-day moving average of $195.43. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the company posted $3.68 EPS. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. Analysts predict that Diamondback Energy, Inc. will post 18.97 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $2.34 dividend. This represents a yield of 1.9%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s dividend payout ratio is 20.29%.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Company 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.