ICICI Prudential Asset Management Co Ltd Purchases 369 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

ICICI Prudential Asset Management Co Ltd lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 18.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,328 shares of the oil and natural gas company’s stock after purchasing an additional 369 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Diamondback Energy were worth $401,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. QRG Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 213.8% during the first quarter. QRG Capital Management Inc. now owns 6,542 shares of the oil and natural gas company’s stock worth $1,297,000 after buying an additional 4,457 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Diamondback Energy by 2.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,118 shares of the oil and natural gas company’s stock valued at $1,014,000 after purchasing an additional 114 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Diamondback Energy by 28.2% in the 1st quarter. Bleakley Financial Group LLC now owns 3,994 shares of the oil and natural gas company’s stock valued at $791,000 after purchasing an additional 879 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in Diamondback Energy by 20.8% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 424 shares of the oil and natural gas company’s stock worth $84,000 after purchasing an additional 73 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Diamondback Energy by 2.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 206,136 shares of the oil and natural gas company’s stock valued at $40,850,000 after buying an additional 5,102 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

FANG opened at $182.24 on Thursday. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market capitalization of $53.21 billion, a PE ratio of 10.43, a P/E/G ratio of 1.27 and a beta of 1.89. The company has a fifty day moving average price of $181.30 and a two-hundred day moving average price of $191.76.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.49 earnings per share. As a group, analysts anticipate that Diamondback Energy, Inc. will post 17 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 1.98%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FANG. Wolfe Research began coverage on Diamondback Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Wednesday, November 6th. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. UBS Group decreased their price target on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Johnson Rice lowered shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.64.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by company insiders.

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.