Versor Investments LP Buys New Shares in Diamondback Energy, Inc. (NASDAQ:FANG)

Versor Investments LP acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,718 shares of the oil and natural gas company's stock, valued at approximately $3,055,000. Diamondback Energy makes up about 0.5% of Versor Investments LP's investment portfolio, making the stock its 16th biggest position.

Other institutional investors also recently modified their holdings of the company. Quent Capital LLC raised its holdings in shares of Diamondback Energy by 7.2% during the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company's stock valued at $162,000 after buying an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC raised 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 acquiring an additional 55 shares in the last quarter. Financial Advocates Investment Management lifted its holdings in shares of 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 grew its holdings in shares of Diamondback Energy by 0.3% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company's stock valued at $3,999,000 after purchasing an additional 56 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Diamondback Energy by 16.1% in the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company's stock worth $82,000 after purchasing an additional 57 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FANG shares. Susquehanna lowered their target price on Diamondback Energy from $237.00 to $233.00 and set a "positive" rating for the company in a research note on Friday, October 18th. UBS Group dropped their price objective on Diamondback Energy from $247.00 to $223.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Piper Sandler lifted their target price on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. initiated coverage on shares of Diamondback Energy in a report on Wednesday, October 2nd. They set an "overweight" rating and a $182.00 price target for the company. Finally, KeyCorp cut their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $209.64.

Diamondback Energy Stock Down 1.5 %

FANG stock traded down $2.75 on Monday, reaching $179.13. 2,801,714 shares of the company traded hands, compared to its average volume of 1,754,248. 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 firm has a fifty day simple moving average of $181.77 and a 200-day simple moving average of $192.15. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The company has a market cap of $52.80 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 1.28 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results 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). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm earned $5.49 EPS. The business's revenue for the quarter was up 13.0% on a year-over-year basis. Research analysts anticipate that Diamondback Energy, Inc. will post 17 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed 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 is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.01%. Diamondback Energy's dividend payout ratio (DPR) is presently 20.61%.

Insider Buying and Selling

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the 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 transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by corporate 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.