Centaurus Financial Inc. Purchases 5,317 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Centaurus Financial Inc. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 351.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,830 shares of the oil and natural gas company’s stock after buying an additional 5,317 shares during the quarter. Centaurus Financial Inc.’s holdings in Diamondback Energy were worth $1,177,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Boston Partners lifted its position in Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after buying an additional 1,916,900 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after acquiring an additional 439,579 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Diamondback Energy by 16.0% during the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after acquiring an additional 415,902 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Diamondback Energy by 280.8% during the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock valued at $109,144,000 after purchasing an additional 402,026 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Diamondback Energy by 195.4% in the second quarter. American Century Companies Inc. now owns 531,162 shares of the oil and natural gas company’s stock valued at $106,333,000 after purchasing an additional 351,329 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $185.29 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $54.10 billion, a PE ratio of 10.61, a P/E/G ratio of 1.36 and a beta of 1.89. The firm has a fifty day simple moving average of $182.15 and a 200 day simple moving average of $190.63. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the business posted $5.49 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 16.35 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.94%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Wall Street Analyst Weigh In

FANG has been the subject of several recent analyst reports. Truist Financial increased their price objective on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Wednesday, November 6th. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their target price for the company from $205.00 to $215.00 in a report on Friday, October 4th. Finally, Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated 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 approximately $181,732,485.09. This trade represents a 92.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now directly owns 4,712 shares of the company’s stock, 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 owned by insiders.

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.