National Pension Service Increases Stock Holdings in Diamondback Energy, Inc. $FANG

National Pension Service increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 338,131 shares of the oil and natural gas company’s stock after buying an additional 2,005 shares during the quarter. National Pension Service owned 0.12% of Diamondback Energy worth $46,459,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. True North Advisors LLC bought a new stake in Diamondback Energy during the first quarter worth $327,000. Nuveen LLC purchased a new stake in Diamondback Energy during the first quarter worth about $230,039,000. Woodmont Investment Counsel LLC raised its position in Diamondback Energy by 1,123.0% in the second quarter. Woodmont Investment Counsel LLC now owns 43,515 shares of the oil and natural gas company’s stock worth $5,979,000 after acquiring an additional 39,957 shares during the period. Vantage Investment Partners LLC raised its position in Diamondback Energy by 4.4% in the second quarter. Vantage Investment Partners LLC now owns 83,184 shares of the oil and natural gas company’s stock worth $11,429,000 after acquiring an additional 3,476 shares during the period. Finally, Swedbank AB boosted its stake in Diamondback Energy by 3.9% in the second quarter. Swedbank AB now owns 207,823 shares of the oil and natural gas company’s stock valued at $28,555,000 after acquiring an additional 7,732 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FANG has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Morgan Stanley reduced their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Melius Research assumed coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target on the stock. Melius assumed coverage on Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price objective for the company. Finally, Piper Sandler lowered their price objective on Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $188.55.

Diamondback Energy Trading Down 1.2%

Shares of Diamondback Energy stock opened at $144.38 on Friday. The company’s 50-day moving average price is $142.31 and its 200-day moving average price is $141.97. The company has a market cap of $41.37 billion, a price-to-earnings ratio of 10.03 and a beta of 0.99. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $186.07. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, beating the consensus estimate of $2.94 by $0.14. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The business’s quarterly revenue was up 48.4% compared to the same quarter last year. During the same period last year, the firm earned $3.19 EPS. On average, equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. Diamondback Energy’s dividend payout ratio (DPR) is presently 27.80%.

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.