Diamondback Energy, Inc. $FANG Stock Holdings Lowered by Strs Ohio

Strs Ohio lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 19.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,560 shares of the oil and natural gas company’s stock after selling 25,498 shares during the period. Strs Ohio’s holdings in Diamondback Energy were worth $14,676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FANG. Outlook Wealth Advisors LLC increased its stake in shares of Diamondback Energy by 18.3% in the third quarter. Outlook Wealth Advisors LLC now owns 2,548 shares of the oil and natural gas company’s stock valued at $365,000 after purchasing an additional 394 shares during the period. Covestor Ltd grew its holdings in Diamondback Energy by 747.1% in the 3rd quarter. Covestor Ltd now owns 1,296 shares of the oil and natural gas company’s stock worth $185,000 after buying an additional 1,143 shares in the last quarter. Anchor Capital Advisors LLC grew its holdings in Diamondback Energy by 21.7% in the 3rd quarter. Anchor Capital Advisors LLC now owns 358,081 shares of the oil and natural gas company’s stock worth $51,241,000 after buying an additional 63,908 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in Diamondback Energy by 8.5% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 3,425 shares of the oil and natural gas company’s stock valued at $490,000 after acquiring an additional 269 shares during the period. Finally, Rakuten Investment Management Inc. bought a new stake in Diamondback Energy during the 3rd quarter valued at $4,292,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 1.4%

NASDAQ FANG opened at $154.02 on Monday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $177.69. The company has a market capitalization of $44.11 billion, a P/E ratio of 10.70 and a beta of 0.59. The company’s 50 day simple moving average is $150.90 and its 200 day simple moving average is $145.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The business 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 EPS. The company’s quarterly revenue was up 48.4% on a year-over-year basis. Equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, November 13th. Diamondback Energy’s dividend payout ratio is currently 27.80%.

Insider Transactions at Diamondback Energy

In other news, Director Charles Alvin Meloy sold 377,911 shares of the business’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 transaction, the director directly owned 1,044,864 shares in the company, valued at $144,828,599.04. The trade was a 26.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FANG has been the subject of several recent analyst reports. Mizuho decreased their price target on Diamondback Energy from $195.00 to $194.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays decreased 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 report on Tuesday, October 7th. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $160.00 to $169.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Wall Street Zen lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Finally, Roth Mkm set a $162.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $185.67.

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.