Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,716 shares of the oil and natural gas company’s stock after purchasing an additional 232 shares during the quarter. GAMMA Investing LLC’s holdings in Diamondback Energy were worth $609,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its holdings in Diamondback Energy by 1.3% during the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after buying an additional 149,871 shares during the last quarter. Geode Capital Management LLC lifted its stake in Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after purchasing an additional 266,299 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Diamondback Energy by 9.3% in the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock valued at $466,259,000 after purchasing an additional 230,689 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Diamondback Energy by 10.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock valued at $538,547,000 after purchasing an additional 247,065 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Diamondback Energy by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,282,557 shares of the oil and natural gas company’s stock worth $456,930,000 after purchasing an additional 87,288 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of recent analyst reports. UBS Group dropped their target price on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Piper Sandler dropped their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $205.00 to $215.00 in a report on Friday, October 4th. Scotiabank dropped their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Benchmark reiterated a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.83.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Up 2.5 %

FANG opened at $170.96 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a market cap of $49.92 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 1.21 and a beta of 1.88. Diamondback Energy, Inc. has a one year low of $147.93 and a one year high of $214.50. The business’s fifty day moving average is $171.25 and its two-hundred day moving average is $184.66.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.49 earnings per share. Analysts anticipate that Diamondback Energy, Inc. will post 16.28 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.11%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

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.