Assenagon Asset Management S.A. Decreases Stake in Diamondback Energy, Inc. $FANG

Assenagon Asset Management S.A. cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 27.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,370 shares of the oil and natural gas company’s stock after selling 22,319 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Diamondback Energy were worth $8,639,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FANG. Creekmur Asset Management LLC purchased a new position in Diamondback Energy in the 2nd quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the second quarter valued at approximately $29,000. Estabrook Capital Management purchased a new position in Diamondback Energy during the second quarter worth approximately $41,000. Creative Financial Designs Inc. ADV lifted its position in Diamondback Energy by 49.6% during the second quarter. Creative Financial Designs Inc. ADV now owns 368 shares of the oil and natural gas company’s stock worth $51,000 after buying an additional 122 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Diamondback Energy during the second quarter worth $54,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the transaction, the director directly owned 1,044,864 shares in the company, valued at $144,828,599.04. This trade represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FANG. Roth Capital set a $162.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Evercore ISI raised their price objective on shares of Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Barclays reduced their target price on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Piper Sandler dropped their price target on shares of Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Finally, KeyCorp cut their price target on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of “Buy” and a consensus target price of $188.76.

Diamondback Energy Trading Up 0.8%

Shares of FANG stock opened at $148.13 on Friday. 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 firm has a market cap of $42.42 billion, a PE ratio of 10.29 and a beta of 0.63. The company has a 50-day moving average of $147.71 and a two-hundred day moving average of $144.71. 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 analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the previous year, the firm earned $3.19 EPS. The business’s revenue was up 48.4% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were given a $1.00 dividend. 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 2.7%. Diamondback Energy’s payout ratio is presently 27.80%.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.