Blake Schutter Theil Wealth Advisors LLC Purchases New Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Blake Schutter Theil Wealth Advisors LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,310 shares of the oil and natural gas company’s stock, valued at approximately $226,000.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in Diamondback Energy by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after buying an additional 2,381,488 shares during the period. Boston Partners increased its position in Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after buying an additional 1,916,900 shares during the period. Homestead Advisers Corp bought a new position in Diamondback Energy during the 1st quarter worth $87,940,000. Bank of New York Mellon Corp grew its holdings in shares of 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 purchasing an additional 415,902 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Diamondback Energy by 280.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock worth $109,144,000 after purchasing an additional 402,026 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Truist Financial increased their target price on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Sanford C. Bernstein reduced their target price on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Wednesday. Piper Sandler increased their target price on Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, Evercore ISI reduced their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.64.

Diamondback Energy Price Performance

Shares of FANG opened at $181.59 on Friday. 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 current ratio of 3.66 and a quick ratio of 3.64. The company has a market capitalization of $53.52 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 1.26 and a beta of 1.89. The business has a 50-day moving average of $182.34 and a 200-day moving average of $192.55.

Diamondback Energy (NASDAQ:FANG) last issued 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 analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 17.64% and a net margin of 33.64%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business earned $5.49 earnings per share. Diamondback Energy’s revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 17.1 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, 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 sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is owned by corporate 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.