Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 86.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,342 shares of the oil and natural gas company's stock after selling 41,463 shares during the period. Meeder Asset Management Inc.'s holdings in Diamondback Energy were worth $1,093,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quent Capital LLC increased its holdings in shares of Diamondback Energy by 7.2% during the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company's stock valued at $162,000 after acquiring an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC increased its position in shares of 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 acquiring an additional 55 shares during the period. Financial Advocates Investment Management raised its stake in Diamondback Energy by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company's stock worth $329,000 after acquiring an additional 55 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in shares of Diamondback Energy by 0.3% during the second quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company's stock worth $3,999,000 after purchasing an additional 56 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Diamondback Energy by 16.1% in the second quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company's stock worth $82,000 after acquiring an additional 57 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $180.12 on Wednesday. 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 firm's 50-day simple moving average is $181.39 and its 200 day simple moving average is $191.07. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The firm has a market capitalization of $52.59 billion, a PE ratio of 10.31, a P/E/G ratio of 1.26 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm's revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.49 earnings per share. On average, equities research analysts predict that Diamondback Energy, Inc. will post 16.78 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.00%. Diamondback Energy's dividend payout ratio (DPR) is presently 20.61%.

Analyst Ratings Changes

A number of research firms have weighed in on FANG. KeyCorp reduced their price objective 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. Raymond James boosted their price target on Diamondback Energy from $232.00 to $237.00 and gave the company a "strong-buy" rating in a report on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. JPMorgan Chase & Co. started coverage on shares of Diamondback Energy in a report on Wednesday, October 2nd. They set an "overweight" rating and a $182.00 price target on the stock. Finally, Piper Sandler boosted their price objective on Diamondback Energy from $240.00 to $252.00 and gave the company an "overweight" rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.00.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business'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 $181,732,485.09. The trade was a 92.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

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.