Intech Investment Management LLC Increases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Intech Investment Management LLC boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,588 shares of the oil and natural gas company’s stock after purchasing an additional 1,545 shares during the period. Intech Investment Management LLC’s holdings in Diamondback Energy were worth $9,066,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. King Luther Capital Management Corp increased its stake in shares of Diamondback Energy by 8.6% during the third quarter. King Luther Capital Management Corp now owns 161,412 shares of the oil and natural gas company’s stock valued at $27,827,000 after buying an additional 12,731 shares during the period. Citizens Financial Group Inc. RI increased its stake in shares of Diamondback Energy by 2.4% during the third quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock valued at $482,000 after buying an additional 65 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Diamondback Energy by 119.6% during the third quarter. EverSource Wealth Advisors LLC now owns 15,731 shares of the oil and natural gas company’s stock valued at $2,712,000 after buying an additional 8,569 shares during the period. Moors & Cabot Inc. increased its stake in shares of Diamondback Energy by 7.3% during the third quarter. Moors & Cabot Inc. now owns 3,574 shares of the oil and natural gas company’s stock valued at $616,000 after buying an additional 244 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in shares of Diamondback Energy by 32.9% during the third quarter. First Horizon Advisors Inc. now owns 460 shares of the oil and natural gas company’s stock valued at $79,000 after buying an additional 114 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FANG. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Jefferies Financial Group began coverage on Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 price target on the stock. Susquehanna reduced their price target on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Finally, Piper Sandler upped their price target on Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $212.00.

Insiders Place Their Bets

In other news, 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 0.8 %

Diamondback Energy stock opened at $182.92 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The stock has a market capitalization of $53.41 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.89. The business’s fifty day moving average is $181.89 and its 200 day moving average is $190.94.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 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 business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the business earned $5.49 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 16.37 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.97%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

About Diamondback Energy

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.