Wahed Invest LLC Purchases 587 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Wahed Invest LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,572 shares of the oil and natural gas company’s stock after buying an additional 587 shares during the quarter. Wahed Invest LLC’s holdings in Diamondback Energy were worth $788,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in FANG. Holocene Advisors LP boosted its position in shares of Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after acquiring an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after purchasing an additional 439,579 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after purchasing an additional 415,902 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Diamondback Energy by 280.8% in the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock valued at $109,144,000 after purchasing an additional 402,026 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Diamondback Energy by 195.4% in the second quarter. American Century Companies Inc. now owns 531,162 shares of the oil and natural gas company’s stock valued at $106,333,000 after purchasing an additional 351,329 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred on 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 directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Susquehanna cut their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. Truist Financial increased their price objective on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Finally, KeyCorp lowered their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $212.65.

Diamondback Energy Price Performance

Shares of FANG opened at $166.83 on Friday. 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, Inc. has a 1 year low of $146.52 and a 1 year high of $214.50. The stock has a market cap of $48.71 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.88. The stock’s 50-day moving average price is $181.46 and its two-hundred day moving average price is $189.28.

Diamondback Energy (NASDAQ:FANG) last released its quarterly 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). The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $5.49 EPS. On average, equities analysts predict that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders 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 dividend yield of 2.16%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Diamondback Energy Company 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.