National Pension Service Boosts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

National Pension Service lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 279,894 shares of the oil and natural gas company’s stock after acquiring an additional 23,225 shares during the quarter. National Pension Service’s holdings in Diamondback Energy were worth $48,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of FANG. Norden Group LLC purchased a new position in shares of Diamondback Energy during the first quarter valued at approximately $237,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Diamondback Energy by 55.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,083 shares of the oil and natural gas company’s stock valued at $1,007,000 after buying an additional 1,809 shares during the period. Rehmann Capital Advisory Group boosted its stake in shares of Diamondback Energy by 24.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,613 shares of the oil and natural gas company’s stock worth $320,000 after buying an additional 313 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Diamondback Energy in the first quarter worth $5,148,000. Finally, Catalina Capital Group LLC purchased a new stake in Diamondback Energy during the first quarter valued at $252,000. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FANG shares. KeyCorp cut 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. UBS Group reduced their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of Diamondback Energy in a research note on Tuesday, September 17th. Piper Sandler boosted their price objective on shares of Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Insider Buying and Selling

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Down 2.3 %

Shares of FANG opened at $175.63 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a market capitalization of $51.77 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The business’s 50 day simple moving average is $182.56 and its 200-day simple moving average is $192.61.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business earned $5.49 EPS. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts expect that Diamondback Energy, Inc. will post 17.1 earnings per share for the current fiscal year.

About Diamondback Energy

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.