Peregrine Asset Advisers Inc. Purchases Shares of 10,239 Diamondback Energy, Inc. (NASDAQ:FANG)

Peregrine Asset Advisers Inc. purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,239 shares of the oil and natural gas company's stock, valued at approximately $1,765,000.

Several other hedge funds have also recently added to or reduced their stakes in FANG. First Community Trust NA acquired a new position in shares of Diamondback Energy in the second quarter worth about $26,000. Carolinas Wealth Consulting LLC boosted its stake 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 worth $27,000 after purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC purchased a new position in Diamondback Energy during the 2nd quarter worth approximately $40,000. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the 3rd quarter valued at $42,000. Finally, Founders Capital Management lifted its holdings 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 valued at $50,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm's stock in a transaction that occurred 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 owns 1,037,819 shares of the company's stock, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.48% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. KeyCorp dropped their price target on Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Barclays raised shares of Diamondback Energy from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Piper Sandler increased 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. Wolfe Research began coverage on shares of Diamondback Energy in a report on Thursday, July 18th. They set a "peer perform" rating on the stock. Finally, BMO Capital Markets raised shares of Diamondback Energy from a "market perform" rating to an "outperform" rating and raised their price target for the company from $205.00 to $215.00 in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Diamondback Energy has an average rating of "Moderate Buy" and a consensus price target of $209.64.

Diamondback Energy Trading Down 0.9 %

NASDAQ FANG traded down $1.59 during trading hours on Monday, reaching $180.29. The company's stock had a trading volume of 1,098,479 shares, compared to its average volume of 1,746,313. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 3.64. The stock has a market cap of $53.14 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.28 and a beta of 1.89. The firm has a fifty day simple moving average of $181.77 and a 200-day simple moving average of $192.15.

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 analysts' consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business earned $5.49 earnings per share. Equities analysts forecast that Diamondback Energy, Inc. will post 17 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm 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 dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. Diamondback Energy's payout ratio is currently 20.61%.

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.