Daiwa Securities Group Inc. Acquires 4,170 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Daiwa Securities Group Inc. lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 14.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,029 shares of the oil and natural gas company’s stock after acquiring an additional 4,170 shares during the period. Daiwa Securities Group Inc.’s holdings in Diamondback Energy were worth $5,867,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FANG. First Community Trust NA bought a new position in Diamondback Energy in the 2nd quarter worth approximately $26,000. Carolinas Wealth Consulting LLC boosted its position in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the second quarter worth $40,000. Values First Advisors Inc. purchased a new position in Diamondback Energy during the third quarter valued at $42,000. Finally, Founders Capital Management increased its holdings in Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FANG. Benchmark restated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. Truist Financial raised their price target on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Susquehanna decreased their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Evercore ISI cut their target price on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Finally, Scotiabank decreased their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.00.

Diamondback Energy Trading Down 2.0 %

NASDAQ FANG opened at $175.97 on Wednesday. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The company’s 50-day moving average price is $182.17 and its 200-day moving average price is $190.28. The stock has a market cap of $51.38 billion, a PE ratio of 10.07, a PEG ratio of 1.36 and a beta of 1.89. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company earned $5.49 earnings per share. Diamondback Energy’s revenue was up 13.0% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 16.35 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

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.