Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 135.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,984 shares of the oil and natural gas company’s stock after purchasing an additional 30,468 shares during the quarter. Cerity Partners LLC’s holdings in Diamondback Energy were worth $9,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Lazard Asset Management LLC lifted its holdings in shares of Diamondback Energy by 4.7% during the 1st quarter. Lazard Asset Management LLC now owns 4,584 shares of the oil and natural gas company’s stock worth $908,000 after acquiring an additional 204 shares during the period. Janus Henderson Group PLC raised its stake in Diamondback Energy by 74.1% during the first 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. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Diamondback Energy by 34.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,435 shares of the oil and natural gas company’s stock valued at $1,870,000 after purchasing an additional 2,417 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Diamondback Energy by 65.8% in the 1st quarter. Tidal Investments LLC now owns 14,786 shares of the oil and natural gas company’s stock valued at $2,929,000 after purchasing an additional 5,869 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Diamondback Energy by 3.0% during the 1st quarter. Comerica Bank now owns 67,093 shares of the oil and natural gas company’s stock worth $13,296,000 after buying an additional 1,985 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research analyst reports. Truist Financial lifted their target price on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Evercore ISI decreased their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. KeyCorp dropped their target price on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Piper Sandler lifted their price target 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, BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $212.00.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy 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 directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Down 2.0 %

FANG stock opened at $175.97 on Wednesday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm has a 50 day simple moving average of $182.17 and a 200-day simple moving average of $190.28. The company has a market capitalization of $51.38 billion, a P/E ratio of 10.07, a PEG ratio of 1.36 and a beta of 1.89. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the business earned $5.49 earnings per share. Diamondback Energy’s revenue was up 13.0% on a year-over-year basis. On average, equities research analysts predict that Diamondback Energy, Inc. will post 16.35 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

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.