Ascent Group LLC Makes New Investment in Diamondback Energy, Inc. $FANG

Ascent Group LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,827 shares of the oil and natural gas company’s stock, valued at approximately $1,263,000.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings 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 worth $3,204,894,000 after purchasing an additional 388,512 shares in the last quarter. Boston Partners grew its holdings in Diamondback Energy by 2.8% during the 2nd quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock valued at $766,914,000 after buying an additional 151,150 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 2.7% during the second 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 buying an additional 142,649 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Diamondback Energy by 9.0% in 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 buying an additional 384,971 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of Diamondback Energy by 9.2% in the second quarter. Raymond James Financial Inc. now owns 1,952,276 shares of the oil and natural gas company’s stock worth $268,243,000 after buying an additional 164,293 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of Diamondback Energy 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 completion of the transaction, the director directly owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. The trade was a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Down 0.6%

Shares of NASDAQ FANG opened at $150.33 on Friday. 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 12-month low of $114.00 and a 12-month high of $180.91. The firm’s 50-day moving average price is $148.95 and its 200-day moving average price is $144.96. The stock has a market capitalization of $43.05 billion, a price-to-earnings ratio of 10.45 and a beta of 0.59.

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 for the quarter, topping 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 analysts’ expectations of $3.48 billion. During the same period in the previous year, the firm posted $3.19 earnings per share. The firm’s revenue for the quarter was up 48.4% on a year-over-year basis. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays cut their target price on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $173.00 price objective on shares of Diamondback Energy in a report on Friday, October 10th. Roth Capital set a $162.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, November 4th. 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. Finally, Scotiabank restated an “outperform” rating on shares of Diamondback Energy in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Buy” and a consensus target price 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.