Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,027 shares of the oil and natural gas company’s stock after buying an additional 205 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Diamondback Energy were worth $349,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its stake in Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the period. Geode Capital Management LLC increased its stake in Diamondback Energy by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after buying an additional 266,299 shares during the period. Bank of New York Mellon Corp lifted its holdings in Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after buying an additional 415,902 shares in the last quarter. Pacer Advisors Inc. boosted its position in Diamondback Energy by 9.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock valued at $466,259,000 after buying an additional 230,689 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Diamondback Energy by 10.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after acquiring an additional 247,065 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

FANG has been the topic of several analyst reports. Scotiabank reduced their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price target for the company from $205.00 to $215.00 in a research report on Friday, October 4th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy in a report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 target price on the stock. Finally, The Goldman Sachs Group began coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $212.17.

Diamondback Energy Price Performance

FANG stock opened at $163.34 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $47.69 billion, a P/E ratio of 9.35, a PEG ratio of 1.21 and a beta of 1.88. The business has a 50 day simple moving average of $179.49 and a 200-day simple moving average of $188.04. Diamondback Energy, Inc. has a twelve month low of $147.93 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.49 EPS. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 16.28 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.20%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s 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 transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Diamondback Energy 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.