Diamondback Energy, Inc. $FANG Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 944.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,050 shares of the oil and natural gas company’s stock after acquiring an additional 5,471 shares during the period. Exchange Traded Concepts LLC’s holdings in Diamondback Energy were worth $866,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Smead Capital Management Inc. acquired a new position in shares of Diamondback Energy in the 2nd quarter worth approximately $144,775,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Diamondback Energy in the 1st quarter valued at about $77,622,000. Vanguard Group Inc. increased its stake in Diamondback Energy by 1.7% in the 2nd 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 buying an additional 388,512 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Diamondback Energy by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after acquiring an additional 384,971 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Diamondback Energy by 44.8% during the 2nd quarter. American Century Companies Inc. now owns 985,844 shares of the oil and natural gas company’s stock valued at $135,456,000 after buying an additional 305,207 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

FANG stock opened at $146.31 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.62 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. The company has a market cap of $41.90 billion, a P/E ratio of 10.17 and a beta of 0.63. The business’s fifty day moving average is $148.38 and its 200-day moving average is $144.91.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data 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. The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The business’s revenue for the quarter was up 48.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.19 earnings per share. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, November 13th. Diamondback Energy’s dividend payout ratio is presently 27.80%.

Insider Activity

In related news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FANG. Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. Mizuho set a $194.00 price objective on Diamondback Energy in a research report on Friday, December 12th. Piper Sandler decreased their target price on Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Morgan Stanley reiterated an “overweight” rating and set a $183.00 price target on shares of Diamondback Energy in a research note on Thursday, November 20th. Finally, Susquehanna lowered their price objective on Diamondback Energy to $188.00 and set a “positive” rating on the stock in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Buy” and an average price target of $188.76.

Diamondback Energy Company Profile

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.