Diamondback Energy, Inc. $FANG Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 16,242 shares of the oil and natural gas company’s stock after selling 815 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Diamondback Energy were worth $2,232,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Creekmur Asset Management LLC purchased a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $28,000. SouthState Corp grew its position in shares of Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 167 shares during the last quarter. Eastern Bank grew its stake in Diamondback Energy by 119.8% during the 1st quarter. Eastern Bank now owns 233 shares of the oil and natural gas company’s stock worth $37,000 after buying an additional 127 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Diamondback Energy in the first quarter valued at $43,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of Diamondback Energy by 49.6% in the second quarter. Creative Financial Designs Inc. ADV now owns 368 shares of the oil and natural gas company’s stock valued at $51,000 after purchasing an additional 122 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $149.31 on Thursday. The stock has a market cap of $42.76 billion, a P/E ratio of 10.38 and a beta of 0.99. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $180.91. The firm’s 50-day simple moving average is $144.10 and its 200 day simple moving average is $142.84.

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

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. Diamondback Energy’s dividend payout ratio is currently 27.80%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FANG shares. Roth Capital set a $162.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Piper Sandler cut their price target on shares of Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. William Blair assumed coverage on shares of Diamondback Energy in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $173.00 price target on shares of Diamondback Energy in a report on Friday, October 10th. Two 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $188.77.

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.