Geode Capital Management LLC Increases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Geode Capital Management LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,618,560 shares of the oil and natural gas company's stock after purchasing an additional 266,299 shares during the period. Geode Capital Management LLC owned 1.58% of Diamondback Energy worth $793,611,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Carolinas Wealth Consulting LLC increased its stake in shares of Diamondback Energy by 67.1% in the second 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. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter worth approximately $40,000. Values First Advisors Inc. bought a new stake in shares of Diamondback Energy in the 3rd quarter valued at $42,000. Oliver Lagore Vanvalin Investment Group increased its position in shares of Diamondback Energy by 109.7% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company's stock worth $52,000 after buying an additional 136 shares during the period. Finally, CVA Family Office LLC raised its stake in Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company's stock worth $51,000 after buying an additional 65 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on FANG shares. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a "buy" rating and a $227.00 price target on the stock. StockNews.com upgraded Diamondback Energy from a "sell" rating to a "hold" rating in a report on Wednesday, November 13th. Royal Bank of Canada reiterated an "outperform" rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Wednesday, November 6th. Susquehanna cut their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a "positive" rating on the stock in a research note on Friday, October 18th. Finally, UBS Group reduced their price target on shares of Diamondback Energy from $235.00 to $212.00 and set a "buy" rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $212.17.

Insider Buying and Selling

In other Diamondback Energy news, 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 $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated 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 completion of the transaction, the insider now owns 1,037,819 shares of the company's stock, valued at $181,732,485.09. The trade was a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Stock Performance

Shares of FANG traded down $1.67 on Thursday, reaching $162.23. 1,626,122 shares of the company's stock traded hands, compared to its average volume of 1,775,313. The stock's 50 day simple moving average is $180.64 and its two-hundred day simple moving average is $188.43. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52-week low of $147.36 and a 52-week high of $214.50. The stock has a market cap of $47.37 billion, a PE ratio of 9.29, a PEG ratio of 1.23 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results 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). 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 for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm earned $5.49 earnings per share. The company's revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts forecast that Diamondback Energy, Inc. will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders 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 dividend yield of 2.22%. Diamondback Energy's 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.