Moors & Cabot Inc. Has $616,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Moors & Cabot Inc. lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.3% during the third quarter, Holdings Channel.com reports. The firm owned 3,574 shares of the oil and natural gas company’s stock after buying an additional 244 shares during the period. Moors & Cabot Inc.’s holdings in Diamondback Energy were worth $616,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Boston Partners raised its position in shares of Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after acquiring an additional 1,916,900 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Diamondback Energy by 25.6% in the third 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 acquiring an additional 439,579 shares during the last quarter. Bank of New York Mellon Corp grew its holdings 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 worth $603,038,000 after acquiring an additional 415,902 shares during the period. 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 valued at $109,144,000 after acquiring an additional 402,026 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Diamondback Energy by 195.4% in the 2nd 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 during the period. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy 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 completion of 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 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 company’s stock in a transaction dated 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 directly owns 4,712 shares in the company, valued at approximately $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 corporate insiders.

Diamondback Energy Trading Up 1.4 %

NASDAQ FANG opened at $185.29 on Friday. The stock has a market capitalization of $54.10 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.32 and a beta of 1.89. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The stock’s 50 day moving average price is $182.15 and its two-hundred day moving average price is $190.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results 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 return on equity of 13.68% and a net margin of 33.64%. 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 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, analysts anticipate that Diamondback Energy, Inc. will post 16.37 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Analyst Ratings Changes

A number of equities research analysts recently commented on FANG shares. JPMorgan Chase & Co. began coverage on Diamondback Energy in a research note on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Wednesday, November 6th. Piper Sandler lifted their price objective on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Morgan Stanley upped their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

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.