Diamondback Energy, Inc. $FANG Shares Purchased by Amundi

Amundi raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 727,150 shares of the oil and natural gas company’s stock after buying an additional 31,688 shares during the quarter. Amundi owned approximately 0.25% of Diamondback Energy worth $103,233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Diamondback Energy by 1.7% in the second quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock valued at $3,204,894,000 after purchasing an additional 388,512 shares during the period. Boston Partners raised its stake in Diamondback Energy by 2.8% during the second quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock worth $766,914,000 after purchasing an additional 151,150 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Diamondback Energy by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock valued at $746,526,000 after purchasing an additional 142,649 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Diamondback Energy by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock valued at $637,841,000 after buying an additional 384,971 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Diamondback Energy by 27.3% during the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock worth $311,792,000 after buying an additional 418,431 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Evercore ISI lifted their target price on Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. Melius Research started coverage on Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 target price for the company. Melius assumed coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target on the stock. Finally, Roth Capital set a $162.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $186.95.

Diamondback Energy Price Performance

Shares of FANG stock opened at $158.60 on Monday. The company has a market capitalization of $45.42 billion, a PE ratio of 11.02 and a beta of 0.63. The firm has a fifty day simple moving average of $145.91 and a 200-day simple moving average of $143.56. 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 twelve month low of $114.00 and a twelve month 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, topping the consensus estimate of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. The firm’s quarterly revenue was up 48.4% on a year-over-year basis. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

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

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.