Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by ING Groep NV

ING Groep NV raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 399.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,111 shares of the oil and natural gas company's stock after purchasing an additional 14,486 shares during the period. ING Groep NV's holdings in Diamondback Energy were worth $3,122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Diamondback Energy by 38.2% in the 1st 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 buying an additional 2,381,488 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Diamondback Energy by 16.0% during the second 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 purchasing an additional 415,902 shares in the last quarter. Boston Partners lifted its holdings in shares of Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company's stock valued at $541,844,000 after purchasing an additional 1,916,900 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Diamondback Energy by 10.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company's stock valued at $538,547,000 after purchasing an additional 247,065 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Diamondback Energy by 7.1% during the 2nd quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company's stock worth $495,236,000 after buying an additional 164,732 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Price Performance

NASDAQ FANG traded down $5.82 during mid-day trading on Friday, hitting $176.60. The stock had a trading volume of 2,123,445 shares, compared to its average volume of 1,888,264. The company has a 50 day simple moving average of $181.16 and a 200 day simple moving average of $191.36. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market cap of $51.57 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 1.26 and a beta of 1.89. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned $5.49 EPS. Equities analysts forecast that Diamondback Energy, Inc. will post 16.78 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, November 14th. Diamondback Energy's payout ratio is 20.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BMO Capital Markets upgraded Diamondback Energy from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Barclays upgraded shares of Diamondback Energy from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Piper Sandler upped their target price on shares of Diamondback Energy from $240.00 to $252.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. Morgan Stanley increased their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. Finally, Truist Financial boosted their price target on Diamondback Energy from $220.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of "Moderate Buy" and an average price target of $209.64.

Insider Buying and Selling

In related news, 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 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 approximately $181,732,485.09. This trade represents a 92.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % 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.

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.