1,823 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by Second Half Financial Partners LLC

Second Half Financial Partners LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,823 shares of the oil and natural gas company’s stock, valued at approximately $314,000.

Several other hedge funds have also modified their holdings of FANG. Price T Rowe Associates Inc. MD lifted its holdings in shares of Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after acquiring an additional 2,381,488 shares during the last quarter. Bank of New York Mellon Corp grew its position in Diamondback Energy by 16.0% in the 2nd 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 acquiring an additional 415,902 shares during the last quarter. Boston Partners grew its position in Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after acquiring an additional 1,916,900 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Diamondback Energy by 10.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after purchasing an additional 247,065 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of Diamondback Energy by 7.1% during the second quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company’s stock worth $495,236,000 after purchasing an additional 164,732 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on FANG. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. UBS Group decreased their price objective on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Benchmark reiterated a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. Piper Sandler raised their target price on shares of Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They issued a “hold” rating and a $185.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.00.

Insider Buying and Selling at Diamondback Energy

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

Diamondback Energy Price Performance

FANG stock opened at $181.90 on Tuesday. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market capitalization of $53.11 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.26 and a beta of 1.89. The business has a 50 day simple moving average of $181.22 and a 200-day simple moving average of $191.22.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the company earned $5.49 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts anticipate that Diamondback Energy, Inc. will post 16.78 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

About Diamondback Energy

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.