814,731 Shares in Diamondback Energy, Inc. $FANG Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 814,731 shares of the oil and natural gas company’s stock, valued at approximately $143,213,000.

A number of other hedge funds have also added to or reduced their stakes in FANG. BlackRock Inc. acquired a new stake in shares of Diamondback Energy in the second quarter valued at about $3,303,362,000. Bank of New York Mellon Corp acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth about $852,791,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Diamondback Energy during the second quarter worth approximately $268,855,000. Wellington Management Group LLP grew its holdings in Diamondback Energy by 74.1% in the 4th quarter. Wellington Management Group LLP now owns 3,239,837 shares of the oil and natural gas company’s stock valued at $487,045,000 after buying an additional 1,379,010 shares in the last quarter. Finally, EnCap Energy Capital Fund XII L.P. bought a new position in Diamondback Energy during the fourth quarter worth about $169,342,000. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of a number of recent analyst reports. Wolfe Research reiterated an “outperform” rating and set a $206.00 target price on shares of Diamondback Energy in a research report on Tuesday, August 4th. Barclays reduced their price objective on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. UBS Group lowered their price objective on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Weiss Ratings upgraded shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Finally, Roth Capital set a $212.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, June 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $222.21.

Diamondback Energy Trading Down 0.0%

Shares of Diamondback Energy stock opened at $199.84 on Thursday. The company has a market capitalization of $55.96 billion, a P/E ratio of 38.96 and a beta of 0.43. The stock has a fifty day simple moving average of $192.62 and a 200 day simple moving average of $190.20. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $216.90. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The business’s revenue was up 51.2% on a year-over-year basis. During the same period last year, the business earned $2.38 EPS. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a $1.10 dividend. The ex-dividend date was Thursday, August 13th. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. Diamondback Energy’s dividend payout ratio is currently 85.77%.

Insider Activity

In related news, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the transaction, the chief accounting officer directly owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the transaction, the director owned 13,437 shares in the company, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 129,167 shares of company stock valued at $24,714,309 over the last ninety days. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Company 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.