Ninepoint Partners LP Takes Position in Diamondback Energy, Inc. $FANG

Ninepoint Partners LP acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 315,000 shares of the oil and natural gas company’s stock, valued at approximately $45,076,000. Diamondback Energy makes up 5.9% of Ninepoint Partners LP’s investment portfolio, making the stock its 6th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in shares of Diamondback Energy during the 2nd quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Diamondback Energy by 106.3% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock valued at $28,000 after acquiring an additional 102 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the second quarter valued at approximately $29,000. Salomon & Ludwin LLC bought a new stake in Diamondback Energy during the third quarter worth approximately $31,000. Finally, Estabrook Capital Management acquired a new stake in Diamondback Energy in the second quarter worth approximately $41,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 4.3%

Shares of NASDAQ FANG opened at $174.08 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.42 and a debt-to-equity ratio of 0.32. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $177.25. The company has a market cap of $49.10 billion, a price-to-earnings ratio of 31.03 and a beta of 0.63. The business has a fifty day simple moving average of $158.15 and a 200-day simple moving average of $149.73.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.26). Diamondback Energy had a return on equity of 8.08% and a net margin of 11.07%.The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the previous year, the firm posted $3.67 EPS. Diamondback Energy’s quarterly revenue was down 9.0% on a year-over-year basis. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, March 5th will be given a $1.05 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 5th. This represents a $4.20 annualized dividend and a dividend yield of 2.4%. Diamondback Energy’s payout ratio is currently 71.30%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FANG shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a research report on Monday, December 29th. Wall Street Zen cut Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Wells Fargo & Company lifted their target price on Diamondback Energy from $169.00 to $171.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Morgan Stanley cut their price target on shares of Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Finally, UBS Group set a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $187.86.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total transaction of $162,880,000.00. Following the transaction, the insider directly owned 98,686,727 shares in the company, valued at approximately $16,074,094,093.76. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the sale, the director owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. The trade was a 26.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,438,516 shares of company stock valued at $225,026,921 in the last ninety days. Company insiders own 0.70% of the company’s stock.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.