Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,199 shares of the oil and natural gas company’s stock after acquiring an additional 1,176 shares during the quarter. Larson Financial Group LLC’s holdings in Diamondback Energy were worth $2,793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FANG. Natixis acquired a new position in Diamondback Energy in the first quarter valued at $195,000. Axxcess Wealth Management LLC purchased a new position in shares of Diamondback Energy in the 1st quarter valued at approximately $219,000. Canada Pension Plan Investment Board lifted its holdings in Diamondback Energy by 2,268.5% in the first quarter. Canada Pension Plan Investment Board now owns 143,176 shares of the oil and natural gas company’s stock valued at $28,373,000 after acquiring an additional 137,131 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Diamondback Energy by 19.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 6,100 shares of the oil and natural gas company’s stock worth $1,209,000 after purchasing an additional 1,000 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Diamondback Energy in the 1st quarter valued at about $78,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred on Monday, September 23rd. The stock was 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 directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 92.72 % 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 company insiders.

Diamondback Energy Stock Performance

FANG stock opened at $185.29 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The firm has a 50 day simple moving average of $182.15 and a 200 day simple moving average of $190.72. The stock has a market cap of $54.10 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.34 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $5.49 EPS. Research analysts anticipate that Diamondback Energy, Inc. will post 16.35 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup initiated coverage on Diamondback Energy in a research note on Monday, October 14th. They set a “neutral” rating and a $195.00 price target on the stock. Benchmark reissued a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Piper Sandler increased their price target on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, KeyCorp reduced their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $212.00.

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.