Banco Santander S.A. Buys 13,006 Shares of Diamondback Energy, Inc. $FANG

Banco Santander S.A. increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 17.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,013 shares of the oil and natural gas company’s stock after purchasing an additional 13,006 shares during the period. Banco Santander S.A.’s holdings in Diamondback Energy were worth $11,818,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BankPlus Trust Department bought a new position in Diamondback Energy in the 1st quarter worth approximately $27,000. SouthState Corp raised its position in Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 167 shares during the last quarter. WASHINGTON TRUST Co raised its position in Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 109 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in Diamondback Energy in the 1st quarter worth approximately $33,000. Finally, Catalyst Capital Advisors LLC raised its position in Diamondback Energy by 60.9% in the 1st quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company’s stock worth $35,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on FANG. Evercore ISI upped their target price on shares of Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Mizuho dropped their target price on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Susquehanna dropped their target price on shares of Diamondback Energy to $188.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Wells Fargo & Company dropped their target price on shares of Diamondback Energy from $211.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Diamondback Energy in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Diamondback Energy has an average rating of “Buy” and an average target price of $189.91.

Diamondback Energy Price Performance

FANG opened at $144.40 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $186.07. The company has a fifty day simple moving average of $142.71 and a 200 day simple moving average of $141.10. The stock has a market cap of $41.80 billion, a P/E ratio of 10.26 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the company earned $4.52 EPS. Diamondback Energy’s quarterly revenue was up 48.1% on a year-over-year basis. On average, research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a $1.00 dividend. The ex-dividend date was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. Diamondback Energy’s dividend payout ratio is currently 28.43%.

Insider Activity at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the sale, the chairman owned 102,145 shares in the company, valued at $14,586,306. This represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is currently owned by corporate 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.