Virtu Financial LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,047 shares of the oil and natural gas company's stock, valued at approximately $1,215,000.
A number of other institutional investors also recently bought and sold shares of FANG. Wealth Enhancement Advisory Services LLC grew its stake in shares of Diamondback Energy by 178.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company's stock valued at $6,112,000 after buying an additional 19,552 shares during the last quarter. Benjamin Edwards Inc. grew its position in Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company's stock valued at $1,687,000 after acquiring an additional 7,694 shares during the last quarter. Atria Investments Inc increased its stake in Diamondback Energy by 18.5% in the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company's stock worth $7,358,000 after purchasing an additional 6,672 shares during the period. Geode Capital Management LLC lifted its position in shares of 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. Finally, Cullen Investment Group LTD. boosted its stake in shares of Diamondback Energy by 33.5% during the third quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company's stock valued at $2,065,000 after purchasing an additional 3,008 shares during the period. 90.01% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Diamondback Energy
In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares of the company's stock, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now directly owns 4,712 shares of the company's stock, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.
Analyst Ratings Changes
Several research analysts have commented on FANG shares. Johnson Rice downgraded Diamondback Energy from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, September 24th. Evercore ISI cut their price target on Diamondback Energy from $235.00 to $209.00 and set an "outperform" rating on the stock in a research note on Monday, September 30th. 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 report on Monday, December 9th. Benchmark restated a "buy" rating and issued a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. Finally, Truist Financial increased their price objective on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $212.17.
Read Our Latest Research Report on Diamondback Energy
Diamondback Energy Stock Performance
Diamondback Energy stock traded up $1.11 during midday trading on Friday, hitting $163.34. 1,718,361 shares of the company were exchanged, compared to its average volume of 1,775,083. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. The firm has a market capitalization of $47.69 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.88. The business has a fifty day simple moving average of $179.49 and a two-hundred day simple moving average of $188.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business posted $5.49 earnings per share. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 16.28 earnings per share for the current year.
Diamondback Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.20%. Diamondback Energy's dividend payout ratio (DPR) is currently 20.61%.
Diamondback Energy Company Profile
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Free Report)
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.
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