Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Vestcor Inc

Vestcor Inc grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 16.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,523 shares of the oil and natural gas company’s stock after acquiring an additional 502 shares during the quarter. Vestcor Inc’s holdings in Diamondback Energy were worth $607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Carolinas Wealth Consulting LLC lifted its holdings in 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 worth $27,000 after purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the 2nd quarter worth approximately $40,000. Values First Advisors Inc. bought a new position in shares of Diamondback Energy in the third quarter valued at approximately $42,000. CVA Family Office LLC increased its stake in shares of Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after acquiring an additional 65 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group raised its holdings in Diamondback Energy by 109.7% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s 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 completion of the transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 92.72 % 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 Stock Down 1.0 %

FANG stock opened at $162.23 on Friday. The company has a 50 day moving average of $180.64 and a two-hundred day moving average of $188.43. The company has a market cap of $47.37 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 1.23 and a beta of 1.88. Diamondback Energy, Inc. has a 12-month low of $147.36 and a 12-month high of $214.50. 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 (NASDAQ:FANG) last released 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 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 firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business posted $5.49 EPS. Diamondback Energy’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors 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 annualized dividend and a dividend yield of 2.22%. Diamondback Energy’s payout ratio is 20.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FANG shares. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Jefferies Financial Group began coverage on Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 target price on the stock. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Wednesday, November 6th. Finally, Benchmark reissued a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $212.17.

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.