Aptus Capital Advisors LLC increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 16.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,714 shares of the oil and natural gas company's stock after purchasing an additional 17,033 shares during the period. Aptus Capital Advisors LLC's holdings in Diamondback Energy were worth $20,811,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $1,706,076,000 after acquiring an additional 2,381,488 shares in the last quarter. Boston Partners raised its holdings 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 buying an additional 1,916,900 shares during the last quarter. Homestead Advisers Corp acquired a new stake in shares of Diamondback Energy during the first quarter worth $87,940,000. Diamond Hill Capital Management Inc. grew its holdings in shares of Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company's stock valued at $372,196,000 after buying an additional 439,579 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Diamondback Energy by 16.0% in the 2nd 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 during the last quarter. Institutional investors own 90.01% of the company's stock.
Diamondback Energy Trading Up 0.4 %
FANG stock traded up $0.78 during trading on Tuesday, reaching $179.91. 1,786,822 shares of the stock were exchanged, compared to its average volume of 1,754,404. The business has a 50 day moving average price of $181.45 and a 200-day moving average price of $191.96. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The company has a current ratio of 0.45, a quick ratio of 3.64 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $53.03 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 1.28 and a beta of 1.89.
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 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the previous year, the company posted $5.49 earnings per share. The company's revenue was up 13.0% on a year-over-year basis. On average, research analysts predict that Diamondback Energy, Inc. will post 17 earnings per share for the current year.
Diamondback Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. Diamondback Energy's payout ratio is currently 20.61%.
Wall Street Analysts Forecast Growth
FANG has been the subject of several recent research reports. Sanford C. Bernstein reduced their target price on shares of Diamondback Energy from $243.00 to $236.00 and set an "outperform" rating for the company in a report on Wednesday, July 17th. Piper Sandler boosted their price target on Diamondback Energy from $240.00 to $252.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. StockNews.com cut shares of Diamondback Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th. Benchmark reiterated a "buy" rating and issued a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, Barclays upgraded shares of Diamondback Energy from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $209.64.
Check Out Our Latest Stock Report on Diamondback Energy
Insiders Place Their Bets
In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by insiders.
About Diamondback Energy
(
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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