Ceredex Value Advisors LLC Has $38.57 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Ceredex Value Advisors LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 19.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 223,750 shares of the oil and natural gas company’s stock after buying an additional 35,800 shares during the period. Ceredex Value Advisors LLC’s holdings in Diamondback Energy were worth $38,574,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its stake in Diamondback Energy by 178.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock valued at $6,112,000 after buying an additional 19,552 shares during the period. Cullen Investment Group LTD. lifted its holdings in shares of Diamondback Energy by 33.5% in the third quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after purchasing an additional 3,008 shares in the last quarter. ORG Partners LLC boosted its position in shares of Diamondback Energy by 2,768.9% during the second quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock valued at $883,000 after buying an additional 4,181 shares during the last quarter. Homestead Advisers Corp purchased a new stake in Diamondback Energy in the 1st quarter valued at $87,940,000. Finally, Mediolanum International Funds Ltd bought a new position in Diamondback Energy during the 1st quarter valued at $5,148,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $175.81 on Friday. The stock has a market cap of $51.82 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 1.23 and a beta of 1.89. The stock’s 50-day moving average is $183.29 and its 200 day moving average is $193.06. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm’s revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.68 EPS. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 17.21 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a dividend of $2.34 per share. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. Diamondback Energy’s dividend payout ratio is currently 18.60%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FANG shares. Piper Sandler upped their target price on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and set a $220.00 price target on shares of Diamondback Energy in a research note on Tuesday, September 17th. Susquehanna reduced their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a report on Friday, October 18th. Finally, Johnson Rice lowered Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

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.