GAMMA Investing LLC Increases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

GAMMA Investing LLC boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 22.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,484 shares of the oil and natural gas company’s stock after acquiring an additional 649 shares during the quarter. GAMMA Investing LLC’s holdings in Diamondback Energy were worth $601,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $193.77 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The firm has a market cap of $34.56 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.17 and a beta of 1.89. The firm’s 50 day moving average price is $187.43 and its 200-day moving average price is $195.30. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 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 company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the firm earned $3.68 earnings per share. The firm’s revenue was up 29.4% compared to the same quarter last year. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 18.97 EPS for the current year.

Diamondback Energy Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. 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 report on Monday, September 16th. Bank of America upped their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Truist Financial lowered their price target on shares of Diamondback Energy from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 price objective for the company. Finally, Wolfe Research started coverage on Diamondback Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $209.50.

About Diamondback Energy

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.