Alpha DNA Investment Management LLC Boosts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Alpha DNA Investment Management LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 13.6% during the third quarter, HoldingsChannel.com reports. The firm owned 3,260 shares of the oil and natural gas company’s stock after buying an additional 391 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Diamondback Energy were worth $562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FANG. First Community Trust NA purchased a new position in Diamondback Energy in the second quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC increased its position in shares of Diamondback Energy by 67.1% in 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 in the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the 2nd quarter valued at $40,000. Values First Advisors Inc. acquired a new position in shares of Diamondback Energy during the 3rd quarter valued at $42,000. Finally, Founders Capital Management boosted its position in 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 worth $50,000 after purchasing an additional 125 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’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 transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now 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. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FANG. Raymond James raised their price objective on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 19th. UBS Group reduced their price target on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Scotiabank decreased their price target 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. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group started coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued 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 a consensus target price of $212.00.

Diamondback Energy Stock Performance

FANG stock opened at $185.29 on Friday. The stock’s 50 day simple moving average is $182.15 and its 200 day simple moving average is $190.72. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The firm has a market cap of $54.10 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.34 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 earnings per share 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 business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company posted $5.49 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 16.35 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.94%. Diamondback Energy’s payout ratio is currently 20.61%.

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.