E Fund Management Hong Kong Co. Ltd. Increases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 416.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 676 shares of the oil and natural gas company’s stock after purchasing an additional 545 shares during the quarter. E Fund Management Hong Kong Co. Ltd.’s holdings in Diamondback Energy were worth $117,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. First Community Trust NA purchased a new stake in Diamondback Energy during the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC boosted its holdings in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the 2nd quarter valued at about $40,000. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $42,000. Finally, Founders Capital Management boosted its holdings in shares of Diamondback Energy by 99.2% during 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. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

Shares of FANG stock opened at $176.65 on Thursday. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The firm has a market capitalization of $31.50 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 1.27 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The stock’s 50-day simple moving average is $183.98 and its 200-day simple moving average is $193.38.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company’s revenue was up 29.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.68 earnings per share. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 17.37 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a $2.34 dividend. The ex-dividend date was Thursday, August 15th. This represents a yield of 1.9%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.48% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FANG shares. Wolfe Research started coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein reduced their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Truist Financial raised their target price on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. KeyCorp dropped their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.09.

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.