Diamondback Energy, Inc. (NASDAQ:FANG) Stake Raised by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,617 shares of the oil and natural gas company’s stock after purchasing an additional 1,650 shares during the period. Public Sector Pension Investment Board’s holdings in Diamondback Energy were worth $5,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers increased its stake in Diamondback Energy by 265.6% in the 1st quarter. Cetera Investment Advisers now owns 46,488 shares of the oil and natural gas company’s stock worth $9,213,000 after purchasing an additional 33,772 shares in the last quarter. Cetera Advisors LLC boosted its stake in Diamondback Energy by 345.2% in the 1st quarter. Cetera Advisors LLC now owns 13,963 shares of the oil and natural gas company’s stock worth $2,767,000 after purchasing an additional 10,827 shares during the period. GAMMA Investing LLC raised its stake in Diamondback Energy by 61.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,835 shares of the oil and natural gas company’s stock valued at $568,000 after purchasing an additional 1,076 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Diamondback Energy by 2.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 6,023 shares of the oil and natural gas company’s stock valued at $1,206,000 after purchasing an additional 139 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Diamondback Energy by 7.2% during the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after buying an additional 54 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Wednesday, November 6th. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Raymond James upped their price objective on shares of Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 19th. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $212.00.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $177.59 on Monday. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The firm has a market cap of $51.85 billion, a P/E ratio of 10.17, a P/E/G ratio of 1.31 and a beta of 1.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a 50 day simple moving average of $181.95 and a 200 day simple moving average of $189.82.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the business earned $5.49 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Sell-side analysts predict that Diamondback Energy, Inc. will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.03%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’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 owns 1,037,819 shares in the company, valued at $181,732,485.09. This 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 the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now 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 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.