Olympiad Research LP Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Olympiad Research LP increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 32.9% in the third quarter, Holdings Channel.com reports. The firm owned 3,201 shares of the oil and natural gas company’s stock after purchasing an additional 792 shares during the quarter. Olympiad Research LP’s holdings in Diamondback Energy were worth $552,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Norden Group LLC purchased a new stake in Diamondback Energy in the 1st quarter valued at about $237,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in Diamondback Energy by 55.3% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,083 shares of the oil and natural gas company’s stock valued at $1,007,000 after buying an additional 1,809 shares during the period. Rehmann Capital Advisory Group boosted its position in Diamondback Energy by 24.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,613 shares of the oil and natural gas company’s stock valued at $320,000 after buying an additional 313 shares during the period. Csenge Advisory Group bought a new position in shares of Diamondback Energy during the first quarter valued at approximately $305,000. Finally, Advisory Alpha LLC bought a new position in shares of Diamondback Energy during the first quarter valued at approximately $292,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 4.5 %

Shares of FANG opened at $183.62 on Thursday. The company’s 50-day simple moving average is $182.34 and its 200-day simple moving average is $192.55. The stock has a market capitalization of $54.12 billion, a PE ratio of 10.51, a P/E/G ratio of 1.26 and a beta of 1.89. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm 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 17.64%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $5.49 EPS. Analysts forecast that Diamondback Energy, Inc. will post 17.1 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 1.96%. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Insider Activity at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of analyst reports. UBS Group decreased their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Truist Financial increased their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Evercore ISI cut their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Bank of America upped their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Wolfe Research assumed coverage on shares of Diamondback Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $209.64.

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.