Fisher Asset Management LLC Has $4.89 Million Holdings in Diamondback Energy, Inc. $FANG

Fisher Asset Management LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 74.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,610 shares of the oil and natural gas company’s stock after selling 105,440 shares during the quarter. Fisher Asset Management LLC’s holdings in Diamondback Energy were worth $4,893,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Creekmur Asset Management LLC bought a new position in Diamondback Energy in the second quarter valued at approximately $28,000. SouthState Corp grew its stake in shares of Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 167 shares during the period. Estabrook Capital Management acquired a new stake in shares of Diamondback Energy during the second quarter worth $41,000. Zions Bancorporation National Association UT bought a new stake in Diamondback Energy in the first quarter valued at about $43,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in Diamondback Energy by 49.6% in the second quarter. Creative Financial Designs Inc. ADV now owns 368 shares of the oil and natural gas company’s stock valued at $51,000 after buying an additional 122 shares during the period. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $159.51 on Friday. The company has a fifty day moving average price of $145.70 and a 200 day moving average price of $143.34. The firm has a market cap of $45.68 billion, a PE ratio of 11.08 and a beta of 0.63. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $180.91.

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

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.5%. Diamondback Energy’s dividend payout ratio is 27.80%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research report on Monday. Evercore ISI upped their target price on shares of Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Wall Street Zen upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley reissued an “overweight” rating and issued a $183.00 price target on shares of Diamondback Energy in a report on Thursday, November 20th. Finally, Mizuho lowered their price objective on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Buy” and an average target price of $186.95.

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.