Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Global Retirement Partners LLC

Global Retirement Partners LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 44.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,003 shares of the oil and natural gas company’s stock after purchasing an additional 1,225 shares during the period. Global Retirement Partners LLC’s holdings in Diamondback Energy were worth $690,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Patton Fund Management Inc. acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at approximately $4,786,000. One Wealth Advisors LLC raised its position in shares of Diamondback Energy by 30.1% in the 3rd quarter. One Wealth Advisors LLC now owns 1,627 shares of the oil and natural gas company’s stock valued at $280,000 after purchasing an additional 376 shares in the last quarter. Seven Grand Managers LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at approximately $5,603,000. Paragon Capital Management Inc. acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at approximately $666,000. Finally, SeaCrest Wealth Management LLC raised its position in shares of Diamondback Energy by 5.2% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,732 shares of the oil and natural gas company’s stock valued at $471,000 after purchasing an additional 135 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 0.0 %

NASDAQ:FANG opened at $183.99 on Monday. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The stock has a market cap of $32.81 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.22 and a beta of 1.89. The business has a fifty day moving average of $186.35 and a 200-day moving average of $194.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the business posted $3.68 earnings per share. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. Equities analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $2.34 dividend. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio is presently 20.29%.

Analyst Ratings Changes

A number of brokerages have issued reports on FANG. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Diamondback Energy in a research report on Tuesday, September 17th. Sanford C. Bernstein dropped their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Morgan Stanley upped their price target on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. started coverage on Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price target on the stock. Finally, Truist Financial upped their price target on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $210.09.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Company 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.