XTX Topco Ltd Has $1.05 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

XTX Topco Ltd lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 111.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,088 shares of the oil and natural gas company's stock after purchasing an additional 3,206 shares during the period. XTX Topco Ltd's holdings in Diamondback Energy were worth $1,050,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Yaupon Capital Management LP acquired a new position in shares of Diamondback Energy in the third quarter worth about $47,410,000. Zimmer Partners LP acquired a new position in shares of Diamondback Energy in the third quarter worth about $87,924,000. National Bank of Canada FI boosted its holdings in shares of Diamondback Energy by 276.7% in the third quarter. National Bank of Canada FI now owns 287,266 shares of the oil and natural gas company's stock worth $49,525,000 after buying an additional 211,014 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the third quarter worth about $941,000. Finally, Kovitz Investment Group Partners LLC boosted its holdings in shares of Diamondback Energy by 74.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 10,755 shares of the oil and natural gas company's stock worth $1,854,000 after buying an additional 4,607 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Price Performance

NASDAQ:FANG traded down $3.97 during mid-day trading on Tuesday, reaching $163.15. 2,298,960 shares of the company were exchanged, compared to its average volume of 1,772,208. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $146.82 and a 12 month high of $214.50. The stock has a market cap of $47.64 billion, a PE ratio of 9.34, a PEG ratio of 1.23 and a beta of 1.88. The company has a fifty day moving average of $181.27 and a 200 day moving average of $188.82.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its 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 net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the company posted $5.49 earnings per share. The business's revenue for the quarter was up 13.0% on a year-over-year basis. On average, research analysts anticipate that Diamondback Energy, Inc. will post 16.26 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.21%. Diamondback Energy's dividend payout ratio is 20.61%.

Wall Street Analysts Forecast Growth

FANG has been the subject of several research reports. Morgan Stanley raised their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Truist Financial raised their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Susquehanna decreased their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a "positive" rating for the company in a report on Friday, October 18th. Scotiabank decreased their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Finally, 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and two have assigned 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.

Insider Activity at Diamondback Energy

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 value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 in the company, valued at $852,872. This represents 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 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.