Leeward Investments LLC MA Has $9.36 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Leeward Investments LLC MA lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 20.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,284 shares of the oil and natural gas company's stock after selling 14,068 shares during the period. Leeward Investments LLC MA's holdings in Diamondback Energy were worth $9,359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Community Trust NA purchased a new stake in shares of Diamondback Energy in the second quarter valued at $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 acquired a new position in shares of Diamondback Energy during the 2nd quarter valued at about $40,000. Values First Advisors Inc. purchased a new position in shares of Diamondback Energy during the 3rd quarter worth about $42,000. Finally, Founders Capital Management boosted its position in shares of Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company's stock worth $50,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.48% of the company's stock.

Diamondback Energy Stock Down 1.1 %

Shares of NASDAQ:FANG traded down $2.03 during midday trading on Thursday, reaching $181.59. The company had a trading volume of 1,727,304 shares, compared to its average volume of 1,745,576. The stock has a market capitalization of $53.52 billion, a P/E ratio of 10.42, a PEG ratio of 1.26 and a beta of 1.89. The stock's fifty day moving average price is $182.34 and its 200-day moving average price is $192.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data 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 net margin of 33.64% and a return on equity of 17.64%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the company earned $5.49 EPS. Diamondback Energy's quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts expect that Diamondback Energy, Inc. will post 17.1 earnings per share 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 issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.98%. Diamondback Energy's dividend payout ratio is currently 20.61%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Susquehanna cut their price target 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. JPMorgan Chase & Co. assumed coverage on Diamondback Energy in a report on Wednesday, October 2nd. They issued an "overweight" rating and a $182.00 target price on the stock. KeyCorp dropped their price target on Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. BMO Capital Markets raised Diamondback Energy from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Finally, Truist Financial increased their target price on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $209.64.

About Diamondback Energy

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.