Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 14.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 749,104 shares of the oil and natural gas company's stock after buying an additional 94,656 shares during the period. Victory Capital Management Inc. owned 0.25% of Diamondback Energy worth $129,146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. First Community Trust NA acquired a new stake in Diamondback Energy in the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC grew its position in shares of Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company's stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the second quarter valued at approximately $40,000. Values First Advisors Inc. purchased a new position in Diamondback Energy during the third quarter worth approximately $42,000. Finally, Founders Capital Management boosted its stake in Diamondback Energy by 99.2% during the second 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 currently owned by institutional investors and hedge funds.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy 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 $181,732,485.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Up 1.3 %

NASDAQ:FANG traded up $2.33 during midday trading on Wednesday, reaching $182.24. The company had a trading volume of 1,469,296 shares, compared to its average volume of 1,753,096. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The firm 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 company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock's fifty day simple moving average is $181.30 and its 200-day simple moving average is $191.76.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced 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). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the previous year, the business posted $5.49 EPS. The business's quarterly revenue was up 13.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 17 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid 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 dividend yield of 1.98%. Diamondback Energy's payout ratio is currently 20.61%.

Analysts Set New Price Targets

A number of analysts have issued reports on FANG shares. Scotiabank cut their target price on Diamondback Energy from $245.00 to $225.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. StockNews.com upgraded shares of Diamondback Energy from a "sell" rating to a "hold" rating in a research report on Wednesday. KeyCorp decreased their target price 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. Piper Sandler raised their price target on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an "overweight" rating in a report on Tuesday, October 15th. Finally, Evercore ISI reduced their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an "outperform" rating on the stock in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $209.64.

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.