Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Raised by MetLife Investment Management LLC

MetLife Investment Management LLC increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,738 shares of the oil and natural gas company’s stock after purchasing an additional 1,180 shares during the quarter. MetLife Investment Management LLC’s holdings in Diamondback Energy were worth $8,402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of FANG. Janus Henderson Group PLC boosted its stake in Diamondback Energy by 74.1% in the 1st quarter. Janus Henderson Group PLC now owns 39,485 shares of the oil and natural gas company’s stock worth $7,824,000 after purchasing an additional 16,804 shares during the period. Tidal Investments LLC boosted its position in shares of Diamondback Energy by 65.8% in the first quarter. Tidal Investments LLC now owns 14,786 shares of the oil and natural gas company’s stock worth $2,929,000 after buying an additional 5,869 shares during the period. Comerica Bank grew its holdings in shares of Diamondback Energy by 3.0% during the first quarter. Comerica Bank now owns 67,093 shares of the oil and natural gas company’s stock valued at $13,296,000 after buying an additional 1,985 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in Diamondback Energy by 5.6% during the first quarter. Citizens Financial Group Inc. RI now owns 2,098 shares of the oil and natural gas company’s stock valued at $416,000 after buying an additional 111 shares during the period. Finally, LRI Investments LLC purchased a new stake in Diamondback Energy in the 1st quarter worth about $73,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.1 %

FANG opened at $176.19 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The company has a market capitalization of $51.45 billion, a P/E ratio of 10.09, a P/E/G ratio of 1.32 and a beta of 1.89. 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’s fifty day moving average price is $182.02 and its two-hundred day moving average price is $190.08.

Diamondback Energy (NASDAQ:FANG) last posted 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). The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.49 EPS. On average, analysts anticipate that Diamondback Energy, Inc. will post 16.26 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.04%. Diamondback Energy’s payout ratio is presently 20.61%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FANG. Raymond James increased their target price on shares of Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 19th. Morgan Stanley lifted their price objective on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Johnson Rice lowered Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Truist Financial raised their price target on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Scotiabank lowered their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $212.00.

Insider Buying and Selling

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the company’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 sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate 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.