Diamondback Energy, Inc. $FANG Shares Acquired by American Century Companies Inc.

American Century Companies Inc. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 44.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 985,844 shares of the oil and natural gas company’s stock after purchasing an additional 305,207 shares during the quarter. American Century Companies Inc. owned about 0.34% of Diamondback Energy worth $135,456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FANG. Woodmont Investment Counsel LLC raised its position in Diamondback Energy by 1,123.0% in the second quarter. Woodmont Investment Counsel LLC now owns 43,515 shares of the oil and natural gas company’s stock worth $5,979,000 after acquiring an additional 39,957 shares in the last quarter. True North Advisors LLC purchased a new stake in shares of Diamondback Energy in the first quarter worth approximately $327,000. NorthRock Partners LLC raised its holdings in shares of Diamondback Energy by 181.6% during the second quarter. NorthRock Partners LLC now owns 3,551 shares of the oil and natural gas company’s stock worth $488,000 after acquiring an additional 2,290 shares in the last quarter. Nuveen LLC bought a new stake in shares of Diamondback Energy in the 1st quarter valued at approximately $230,039,000. Finally, Vantage Investment Partners LLC raised its holdings in shares of Diamondback Energy by 4.4% during the 2nd quarter. Vantage Investment Partners LLC now owns 83,184 shares of the oil and natural gas company’s stock valued at $11,429,000 after purchasing an additional 3,476 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Melius Research started coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a research note on Wednesday, November 19th. KeyCorp lowered their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd. UBS Group boosted their price target on shares of Diamondback Energy from $171.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Diamondback Energy from $160.00 to $169.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $188.77.

Diamondback Energy Trading Up 0.8%

FANG stock opened at $147.64 on Tuesday. The company has a fifty day moving average price of $143.76 and a two-hundred day moving average price of $142.73. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The stock has a market cap of $42.30 billion, a price-to-earnings ratio of 10.26 and a beta of 0.99. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $184.59.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, beating the consensus estimate of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The firm’s revenue for the quarter was up 48.4% on a year-over-year basis. Equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 annualized dividend and a yield of 2.7%. Diamondback Energy’s payout ratio is currently 27.80%.

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.