Private Advisor Group LLC Has $2.82 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Private Advisor Group LLC grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 65.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,482 shares of the oil and natural gas company’s stock after purchasing an additional 8,472 shares during the period. Private Advisor Group LLC’s holdings in Diamondback Energy were worth $2,822,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. State Street Corp boosted its position in shares of Diamondback Energy by 1.0% during the 1st quarter. State Street Corp now owns 11,656,848 shares of the oil and natural gas company’s stock valued at $1,575,653,000 after acquiring an additional 112,297 shares in the last quarter. Wellington Management Group LLP boosted its position in Diamondback Energy by 149.7% in the first quarter. Wellington Management Group LLP now owns 11,257,540 shares of the oil and natural gas company’s stock valued at $1,521,682,000 after buying an additional 6,748,670 shares in the last quarter. Geode Capital Management LLC boosted its position in Diamondback Energy by 4.8% in the first quarter. Geode Capital Management LLC now owns 3,919,925 shares of the oil and natural gas company’s stock valued at $528,736,000 after buying an additional 179,405 shares in the last quarter. Morgan Stanley boosted its position in Diamondback Energy by 2.5% in the fourth quarter. Morgan Stanley now owns 3,572,083 shares of the oil and natural gas company’s stock valued at $488,590,000 after buying an additional 85,618 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Diamondback Energy by 20.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,056,732 shares of the oil and natural gas company’s stock valued at $277,983,000 after buying an additional 347,833 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $156.15 on Tuesday. The firm has a market cap of $27.95 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 0.39 and a beta of 1.98. The stock’s 50-day moving average is $157.93 and its 200-day moving average is $145.28. Diamondback Energy, Inc. has a one year low of $119.01 and a one year high of $171.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.89 and a quick ratio of 0.86.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $5.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.90 by $0.59. Diamondback Energy had a return on equity of 20.66% and a net margin of 38.84%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the company posted $6.48 earnings per share. Diamondback Energy’s revenue was down 4.0% on a year-over-year basis. Equities analysts predict that Diamondback Energy, Inc. will post 18.23 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, November 16th will be issued a dividend of $0.84 per share. The ex-dividend date is Wednesday, November 15th. This represents a $3.36 annualized dividend and a yield of 2.15%. Diamondback Energy’s payout ratio is presently 19.07%.

Insider Buying and Selling

In other Diamondback Energy news, Director David L. Houston sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $156.54, for a total value of $1,252,320.00. Following the sale, the director now owns 11,565 shares in the company, valued at $1,810,385.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Diamondback Energy news, Director David L. Houston sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $156.54, for a total value of $1,252,320.00. Following the sale, the director now owns 11,565 shares in the company, valued at $1,810,385.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Matt Zmigrosky sold 2,706 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $157.17, for a total value of $425,302.02. Following the completion of the transaction, the executive vice president now directly owns 27,480 shares in the company, valued at approximately $4,319,031.60. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on FANG. Benchmark restated a “buy” rating and issued a $154.00 price target on shares of Diamondback Energy in a research report on Thursday, October 12th. Citigroup downgraded shares of Diamondback Energy from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $160.00 to $170.00 in a research note on Monday, October 23rd. Wells Fargo & Company boosted their price target on shares of Diamondback Energy from $168.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, October 20th. Bank of America raised their price objective on shares of Diamondback Energy from $140.00 to $145.00 in a research note on Wednesday, September 27th. Finally, Truist Financial upped their target price on shares of Diamondback Energy from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $184.41.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.