Pendal Group Ltd acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,755 shares of the oil and natural gas company’s stock, valued at approximately $241,000.
A number of other large investors also recently added to or reduced their stakes in FANG. Invesco Ltd. raised its stake in Diamondback Energy by 38.9% during the 4th quarter. Invesco Ltd. now owns 3,311,337 shares of the oil and natural gas company’s stock valued at $357,129,000 after purchasing an additional 927,878 shares during the last quarter. THRC Management LLC acquired a new position in Diamondback Energy during the 4th quarter valued at $86,532,000. State Street Corp raised its stake in Diamondback Energy by 5.8% during the 4th quarter. State Street Corp now owns 11,173,356 shares of the oil and natural gas company’s stock valued at $1,205,046,000 after purchasing an additional 607,766 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Diamondback Energy by 990.8% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 505,677 shares of the oil and natural gas company’s stock valued at $54,537,000 after purchasing an additional 459,318 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Diamondback Energy by 15.2% during the 4th quarter. Northern Trust Corp now owns 2,148,688 shares of the oil and natural gas company’s stock valued at $231,736,000 after purchasing an additional 283,086 shares during the last quarter. Hedge funds and other institutional investors own 89.97% of the company’s stock.
In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 6,000 shares of the stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $160.00, for a total transaction of $960,000.00. Following the sale, the chief financial officer now owns 61,334 shares of the company’s stock, valued at approximately $9,813,440. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Teresa L. Dick sold 2,500 shares of the stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $152.22, for a total transaction of $380,550.00. Following the sale, the chief accounting officer now directly owns 57,308 shares in the company, valued at approximately $8,723,423.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,500 shares of company stock worth $6,740,850. Insiders own 0.42% of the company’s stock.
FANG opened at $116.33 on Friday. The firm’s 50-day simple moving average is $135.39 and its 200-day simple moving average is $131.60. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.69 and a current ratio of 0.72. Diamondback Energy, Inc. has a twelve month low of $65.93 and a twelve month high of $162.24. The firm has a market cap of $20.65 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 0.20 and a beta of 2.20.
Diamondback Energy (NASDAQ:FANG – Get Rating) last posted its earnings results on Monday, May 2nd. The oil and natural gas company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.46. Diamondback Energy had a net margin of 34.17% and a return on equity of 19.91%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the firm earned $2.30 EPS. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 25.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 23rd. Stockholders of record on Thursday, May 12th were issued a $0.70 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Wednesday, May 11th. This represents a $2.80 annualized dividend and a dividend yield of 2.41%. Diamondback Energy’s dividend payout ratio is presently 18.46%.
FANG has been the subject of several research analyst reports. Morgan Stanley cut their target price on shares of Diamondback Energy from $184.00 to $178.00 and set an “overweight” rating for the company in a research note on Monday, June 6th. StockNews.com began coverage on shares of Diamondback Energy in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Piper Sandler boosted their price target on shares of Diamondback Energy from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, June 10th. Susquehanna Bancshares boosted their price target on shares of Diamondback Energy from $152.00 to $167.00 and gave the company a “positive” rating in a report on Monday, April 25th. Finally, Wells Fargo & Company lowered their price target on shares of Diamondback Energy from $204.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, May 17th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average target price of $168.39.
About Diamondback Energy (Get Rating)
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.
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