Czech National Bank Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Czech National Bank increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,166 shares of the oil and natural gas company’s stock after buying an additional 4,180 shares during the quarter. Czech National Bank’s holdings in Diamondback Energy were worth $6,580,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Founders Capital Management lifted its stake in shares of Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 101 shares during the last quarter. First Community Trust NA acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth about $26,000. Carolinas Wealth Consulting LLC raised its holdings in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares during the period. Logan Capital Management Inc. acquired a new position in Diamondback Energy in the fourth quarter valued at about $31,000. Finally, HHM Wealth Advisors LLC acquired a new position in Diamondback Energy in the second quarter valued at about $40,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Morgan Stanley raised their price target on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company decreased their target price on Diamondback Energy from $230.00 to $219.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Bank of America lifted their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $209.50.

Diamondback Energy Price Performance

Shares of FANG opened at $194.61 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. Diamondback Energy, Inc. has a 1-year low of $143.08 and a 1-year high of $214.50. The stock has a market cap of $34.71 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89. The firm has a fifty day moving average price of $187.40 and a 200 day moving average price of $195.25.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.01. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business’s quarterly revenue was up 29.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.68 EPS. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 18.97 EPS for the current year.

Diamondback Energy Increases Dividend

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

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.