Dorsey Wright & Associates Makes New $2.52 Million Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Dorsey Wright & Associates bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,626 shares of the oil and natural gas company's stock, valued at approximately $2,522,000.

Several other institutional investors have also recently added to or reduced their stakes in FANG. First Community Trust NA purchased a new stake in Diamondback Energy in the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC grew its holdings in Diamondback Energy by 67.1% in the 2nd 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 purchased a new stake in shares of Diamondback Energy during the 2nd quarter worth about $40,000. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy during the 3rd quarter worth about $42,000. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company's stock worth $52,000 after purchasing an additional 136 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Stock Performance

Shares of FANG traded down $5.85 during mid-day trading on Friday, reaching $166.83. The company's stock had a trading volume of 3,105,123 shares, compared to its average volume of 1,856,611. Diamondback Energy, Inc. has a 1-year low of $146.52 and a 1-year high of $214.50. The stock has a market cap of $48.71 billion, a P/E ratio of 9.55, a PEG ratio of 1.26 and a beta of 1.88. The business has a 50-day simple moving average of $181.38 and a two-hundred day simple moving average of $188.99. 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 (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share 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 firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business posted $5.49 EPS. Diamondback Energy's revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy's dividend payout ratio is presently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now owns 4,712 shares of the company's stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the firm's stock in a transaction on 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 sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

Analyst Ratings Changes

FANG has been the subject of a number of research reports. Royal Bank of Canada reiterated an "outperform" rating and set a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. The Goldman Sachs Group initiated coverage on Diamondback Energy in a report on Monday, December 2nd. They set a "buy" rating and a $227.00 target price for the company. StockNews.com upgraded Diamondback Energy from a "sell" rating to a "hold" rating in a report on Wednesday, November 13th. Susquehanna reduced their price target on Diamondback Energy from $237.00 to $233.00 and set a "positive" rating on the stock in a research report on Friday, October 18th. Finally, Jefferies Financial Group assumed coverage on Diamondback Energy in a research report on Monday, September 16th. They set a "hold" rating and a $185.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $212.65.

Diamondback Energy Company 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.