Ceredex Value Advisors LLC Purchases 35,800 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Ceredex Value Advisors LLC grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 19.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 223,750 shares of the oil and natural gas company’s stock after purchasing an additional 35,800 shares during the period. Ceredex Value Advisors LLC owned approximately 0.13% of Diamondback Energy worth $38,574,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. First Community Trust NA acquired a new position in Diamondback Energy in the 2nd quarter valued at $26,000. Carolinas Wealth Consulting LLC increased its stake in 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 purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new stake in Diamondback Energy during the 2nd quarter worth approximately $40,000. Values First Advisors Inc. purchased a new stake in Diamondback Energy during the 3rd quarter worth about $42,000. Finally, Founders Capital Management grew its stake in shares of Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FANG shares. Piper Sandler upped their target price on shares of Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Morgan Stanley increased their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Wolfe Research assumed coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. Finally, Scotiabank reduced their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Diamondback Energy Stock Down 0.5 %

FANG stock opened at $175.81 on Friday. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average price of $183.29 and a two-hundred day moving average price of $193.06. The company has a market cap of $51.82 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 1.23 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced 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. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $3.68 earnings per share. The business’s revenue was up 29.4% compared to the same quarter last year. Analysts anticipate that Diamondback Energy, Inc. will post 17.21 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $2.34 dividend. The ex-dividend date was Thursday, August 15th. This is an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio is 18.60%.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by company insiders.

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.