West Family Investments Inc. Has $319,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

West Family Investments Inc. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,852 shares of the oil and natural gas company’s stock after acquiring an additional 61 shares during the quarter. West Family Investments Inc.’s holdings in Diamondback Energy were worth $319,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC increased its position in Diamondback Energy by 7.2% in the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after buying an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its stake in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Financial Advocates Investment Management boosted its stake in Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after purchasing an additional 55 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its stake in Diamondback Energy by 0.3% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock valued at $3,999,000 after purchasing an additional 56 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Diamondback Energy by 16.1% during the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after purchasing an additional 57 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FANG shares. Piper Sandler lifted their price target on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Scotiabank cut their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Bank of America boosted their target price on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $212.00.

Diamondback Energy Trading Down 1.0 %

Shares of FANG stock opened at $180.12 on Wednesday. The stock has a market capitalization of $52.59 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.26 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 company’s fifty day simple moving average is $181.39 and its two-hundred day simple moving average is $191.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.49 EPS. As a group, analysts anticipate that Diamondback Energy, Inc. will post 16.78 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders 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 dividend yield of 2.00%. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Transactions at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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.