Toronto Dominion Bank Decreases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Toronto Dominion Bank lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 26.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,878 shares of the oil and natural gas company's stock after selling 23,329 shares during the quarter. Toronto Dominion Bank's holdings in Diamondback Energy were worth $11,013,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Diamondback Energy by 6.1% in the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company's stock valued at $793,611,000 after buying an additional 266,299 shares during the last quarter. Brophy Wealth Management LLC acquired a new stake in Diamondback Energy during the 3rd quarter valued at $223,000. Vestcor Inc increased its holdings in shares of Diamondback Energy by 16.6% in the third quarter. Vestcor Inc now owns 3,523 shares of the oil and natural gas company's stock valued at $607,000 after purchasing an additional 502 shares during the last quarter. Continuum Advisory LLC increased its holdings in shares of Diamondback Energy by 51,295.5% in the third quarter. Continuum Advisory LLC now owns 22,614 shares of the oil and natural gas company's stock valued at $4,125,000 after purchasing an additional 22,570 shares during the last quarter. Finally, LRI Investments LLC lifted its stake in shares of Diamondback Energy by 4,252.7% during the 3rd quarter. LRI Investments LLC now owns 17,193 shares of the oil and natural gas company's stock worth $2,964,000 after buying an additional 16,798 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was 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. The trade was a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 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 represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

Analyst Ratings Changes

FANG has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They issued a "buy" rating and a $227.00 price target on the stock. JPMorgan Chase & Co. started coverage on Diamondback Energy in a report on Wednesday, October 2nd. They set an "overweight" rating and a $182.00 price target for the company. BMO Capital Markets raised Diamondback Energy from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $205.00 to $215.00 in a report on Friday, October 4th. Evercore ISI dropped their target price on Diamondback Energy from $235.00 to $209.00 and set an "outperform" rating for the company in a report on Monday, September 30th. Finally, Truist Financial upped their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $212.17.

Diamondback Energy Trading Up 0.7 %

Shares of NASDAQ:FANG traded up $1.11 during midday trading on Friday, reaching $163.34. The company's stock had a trading volume of 1,718,361 shares, compared to its average volume of 1,775,083. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. The firm has a 50 day moving average price of $179.49 and a two-hundred day moving average price of $187.97. The firm has a market capitalization of $47.69 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 1.21 and a beta of 1.88.

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 EPS for the quarter, missing analysts' consensus estimates 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 company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.49 earnings per share. As a group, analysts forecast that Diamondback Energy, Inc. will post 16.28 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.20%. Diamondback Energy's payout ratio is 20.61%.

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.