22,823 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by World Investment Advisors LLC

World Investment Advisors LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 22,823 shares of the oil and natural gas company's stock, valued at approximately $3,935,000.

Other hedge funds have also recently bought and sold shares of the company. Zimmer Partners LP bought a new position in shares of Diamondback Energy in the third quarter worth $87,924,000. Holocene Advisors LP lifted its holdings in Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company's stock worth $161,793,000 after purchasing an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. grew its position in Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company's stock valued at $372,196,000 after buying an additional 439,579 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company's stock valued at $603,038,000 after buying an additional 415,902 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Diamondback Energy by 280.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company's stock worth $109,144,000 after buying an additional 402,026 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Up 0.7 %

Shares of NASDAQ FANG traded up $1.11 during mid-day trading on Friday, reaching $163.34. The company had a trading volume of 1,718,361 shares, compared to its average volume of 1,775,083. The stock has a market capitalization of $47.69 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.88. Diamondback Energy, Inc. has a twelve month low of $147.93 and a twelve month high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock's 50 day moving average is $179.49 and its 200-day moving average is $188.04.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the business earned $5.49 earnings per share. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 16.28 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy's dividend payout ratio is 20.61%.

Analyst Ratings Changes

FANG has been the subject of several recent analyst reports. StockNews.com upgraded shares of Diamondback Energy from a "sell" rating to a "hold" rating in a report on Wednesday, November 13th. BMO Capital Markets raised Diamondback Energy from a "market perform" rating to an "outperform" rating and increased their price target for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Benchmark reissued a "buy" rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday, October 29th. Piper Sandler raised their target price on Diamondback Energy from $240.00 to $252.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. Finally, Evercore ISI lowered their target price on Diamondback Energy from $235.00 to $209.00 and set an "outperform" rating on the stock in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of "Moderate Buy" and an average price target of $212.17.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares of the company's stock, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company's stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently 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.