abrdn plc Purchases 1,226 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

abrdn plc raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,948 shares of the oil and natural gas company’s stock after acquiring an additional 1,226 shares during the quarter. abrdn plc’s holdings in Diamondback Energy were worth $7,379,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Yacktman Asset Management LP bought a new stake in shares of Diamondback Energy in the 3rd quarter worth approximately $152,022,000. State Street Corp boosted its position in shares of Diamondback Energy by 7.0% in the 3rd quarter. State Street Corp now owns 11,524,297 shares of the oil and natural gas company’s stock worth $1,388,217,000 after purchasing an additional 755,625 shares in the last quarter. Ninepoint Partners LP boosted its position in shares of Diamondback Energy by 636.7% in the 3rd quarter. Ninepoint Partners LP now owns 725,000 shares of the oil and natural gas company’s stock worth $87,334,000 after purchasing an additional 626,594 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Diamondback Energy by 77.6% in the 4th quarter. Pacer Advisors Inc. now owns 1,398,277 shares of the oil and natural gas company’s stock worth $191,256,000 after purchasing an additional 610,894 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Diamondback Energy by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 21,771,852 shares of the oil and natural gas company’s stock worth $2,622,637,000 after purchasing an additional 584,025 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Diamondback Energy Trading Up 1.1 %

NASDAQ:FANG opened at $130.22 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.62 and a quick ratio of 0.58. The firm has a market capitalization of $23.58 billion, a price-to-earnings ratio of 5.39, a price-to-earnings-growth ratio of 0.30 and a beta of 2.03. Diamondback Energy, Inc. has a one year low of $103.71 and a one year high of $168.95. The business has a fifty day moving average price of $134.82 and a 200-day moving average price of $140.81.

Diamondback Energy (NASDAQ:FANG – Get Rating) last posted its quarterly earnings data on Monday, May 1st. The oil and natural gas company reported $4.10 EPS for the quarter, missing the consensus estimate of $4.33 by ($0.23). The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Diamondback Energy had a return on equity of 27.02% and a net margin of 47.15%. The company’s revenue for the quarter was down 20.1% on a year-over-year basis. During the same quarter last year, the company earned $5.20 earnings per share. Sell-side analysts forecast that Diamondback Energy, Inc. will post 19.73 EPS for the current year.

Diamondback Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Thursday, May 11th were paid a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $3.20 annualized dividend and a dividend yield of 2.46%. Diamondback Energy’s dividend payout ratio (DPR) is 13.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Mizuho dropped their price target on Diamondback Energy from $177.00 to $174.00 in a research report on Friday. Stifel Nicolaus upped their price objective on Diamondback Energy from $172.00 to $180.00 in a research report on Thursday, April 27th. Citigroup lowered their price objective on Diamondback Energy from $170.00 to $157.00 and set a “buy” rating on the stock in a research report on Thursday, March 23rd. Raymond James upped their price objective on Diamondback Energy from $165.00 to $190.00 and gave the company a “strong-buy” rating in a research report on Friday, April 21st. Finally, UBS Group initiated coverage on Diamondback Energy in a research report on Wednesday, April 19th. They issued a “buy” rating and a $177.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $178.18.

Diamondback Energy Profile

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Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.