MQS Management LLC Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

MQS Management LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,566 shares of the oil and natural gas company's stock, valued at approximately $615,000.

Other large investors have also made changes to their positions in the company. First Community Trust NA acquired a new position in Diamondback Energy during the second quarter worth $26,000. Carolinas Wealth Consulting LLC increased its stake in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company's stock worth $27,000 after purchasing an additional 55 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the 2nd quarter worth about $40,000. Values First Advisors Inc. purchased a new position in Diamondback Energy in the 3rd quarter valued at about $42,000. Finally, Founders Capital Management boosted its holdings in Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company's stock worth $50,000 after buying an additional 125 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 1.3 %

Shares of FANG stock traded up $2.33 on Wednesday, reaching $182.24. 1,465,758 shares of the stock were exchanged, compared to its average volume of 1,753,096. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $53.21 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 1.27 and a beta of 1.89. The business's 50 day moving average price is $181.30 and its 200 day moving average price is $191.76.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business 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%. Diamondback Energy's revenue was up 13.0% on a year-over-year basis. During the same period last year, the business posted $5.49 EPS. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 17 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business 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 $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy's dividend payout ratio (DPR) is 20.61%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FANG shares. Wolfe Research initiated coverage on Diamondback Energy in a research report on Thursday, July 18th. They issued a "peer perform" rating on the stock. UBS Group dropped their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. KeyCorp decreased their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Bank of America increased their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a "neutral" rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley boosted their target price on Diamondback Energy from $185.00 to $198.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $209.64.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 1,037,819 shares of the company's stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.