Diamondback Energy, Inc. (NASDAQ:FANG) Stake Boosted by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 155.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,043 shares of the oil and natural gas company’s stock after purchasing an additional 26,204 shares during the quarter. SG Americas Securities LLC’s holdings in Diamondback Energy were worth $7,052,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in shares of Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock valued at $2,044,415,000 after purchasing an additional 149,871 shares during the last quarter. Geode Capital Management LLC grew its stake in Diamondback Energy by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after buying an additional 266,299 shares during the last quarter. Pacer Advisors Inc. increased its position in Diamondback Energy by 9.3% in the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after buying an additional 230,689 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after buying an additional 439,579 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Diamondback Energy by 4.2% during the third quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company’s stock valued at $195,714,000 after acquiring an additional 46,109 shares during the period. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent research reports. Piper Sandler cut their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Citigroup began coverage on Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target on the stock. Wells Fargo & Company increased their price objective on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Susquehanna cut their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Finally, KeyCorp decreased their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.00.

Diamondback Energy Stock Performance

FANG opened at $173.26 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market cap of $50.59 billion, a PE ratio of 9.92, a P/E/G ratio of 1.44 and a beta of 1.88. The business has a fifty day simple moving average of $170.35 and a 200-day simple moving average of $182.47. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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). The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.49 EPS. As a group, equities analysts predict that Diamondback Energy, Inc. will post 15.58 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm 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 of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.08%. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by 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.