iA Global Asset Management Inc. lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 90.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 26,759 shares of the oil and natural gas company's stock after selling 248,378 shares during the period. iA Global Asset Management Inc.'s holdings in Diamondback Energy were worth $4,613,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in FANG. QRG Capital Management Inc. boosted its stake in Diamondback Energy by 12.9% during the 2nd quarter. QRG Capital Management Inc. now owns 7,389 shares of the oil and natural gas company's stock valued at $1,479,000 after purchasing an additional 847 shares during the last quarter. SG Americas Securities LLC boosted its stake in Diamondback Energy by 602.0% during the 2nd quarter. SG Americas Securities LLC now owns 46,193 shares of the oil and natural gas company's stock valued at $9,247,000 after purchasing an additional 39,613 shares during the last quarter. Austin Private Wealth LLC acquired a new position in Diamondback Energy during the 2nd quarter valued at about $235,000. Czech National Bank lifted its position in shares of Diamondback Energy by 7.9% during the 2nd quarter. Czech National Bank now owns 33,986 shares of the oil and natural gas company's stock worth $6,804,000 after buying an additional 2,494 shares in the last quarter. Finally, Aspire Private Capital LLC lifted its position in shares of Diamondback Energy by 11.8% during the 2nd quarter. Aspire Private Capital LLC now owns 4,259 shares of the oil and natural gas company's stock worth $853,000 after buying an additional 451 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.
Analyst Ratings Changes
Several equities analysts have commented on FANG shares. StockNews.com raised shares of Diamondback Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, November 13th. Johnson Rice cut shares of Diamondback Energy from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, September 24th. Piper Sandler lifted their target price on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 15th. Raymond James lifted their price target on shares of Diamondback Energy from $232.00 to $237.00 and gave the stock a "strong-buy" rating in a report on Tuesday, November 19th. Finally, Citigroup began coverage on shares of Diamondback Energy in a report on Monday, October 14th. They issued a "neutral" rating and a $195.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $212.65.
Get Our Latest Stock Analysis on FANG
Diamondback Energy Price Performance
Shares of FANG traded down $5.85 during mid-day trading on Friday, reaching $166.83. 3,105,123 shares of the stock traded hands, compared to its average volume of 1,856,611. The firm has a fifty day moving average price of $181.38 and a 200 day moving average price of $188.99. The company has a market cap of $48.71 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 1.26 and a beta of 1.88. 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 1 year low of $146.52 and a 1 year high of $214.50.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly 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 net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter last year, the firm earned $5.49 earnings per share. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.
Diamondback Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.16%. Diamondback Energy's dividend payout ratio (DPR) is presently 20.61%.
Insider Buying and Selling
In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business's stock in a transaction on 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 sale, the director now directly owns 4,712 shares of the company's stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the business'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 completion of the sale, the insider now directly owns 1,037,819 shares of the company's stock, valued at $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company 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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