Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Raised by BLB&B Advisors LLC

BLB&B Advisors LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 23.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,239 shares of the oil and natural gas company’s stock after acquiring an additional 5,355 shares during the period. BLB&B Advisors LLC’s holdings in Diamondback Energy were worth $4,868,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Park Avenue Securities LLC grew its position in shares of Diamondback Energy by 6.8% during the first quarter. Park Avenue Securities LLC now owns 4,236 shares of the oil and natural gas company’s stock worth $839,000 after acquiring an additional 269 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Diamondback Energy by 10.0% during the first quarter. International Assets Investment Management LLC now owns 1,889 shares of the oil and natural gas company’s stock worth $377,000 after buying an additional 172 shares during the period. Ballentine Partners LLC bought a new position in Diamondback Energy in the 1st quarter worth approximately $292,000. First Financial Corp IN increased its position in Diamondback Energy by 73.3% in the 1st quarter. First Financial Corp IN now owns 520 shares of the oil and natural gas company’s stock valued at $103,000 after acquiring an additional 220 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in Diamondback Energy during the 1st quarter valued at $99,000. 90.01% of the stock is currently owned by institutional investors.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FANG shares. Wolfe Research started coverage on Diamondback Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank reduced their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. Citigroup began coverage on Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price for the company. Finally, Piper Sandler lifted their price target on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

Diamondback Energy Price Performance

NASDAQ FANG opened at $184.03 on Wednesday. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The stock’s 50-day moving average is $185.73 and its two-hundred day moving average is $194.44. The firm has a market cap of $32.82 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same period last year, the business earned $3.68 EPS. On average, analysts anticipate that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a dividend of $2.34 per share. This is an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s dividend payout ratio is currently 20.29%.

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.