Daiwa Securities Group Inc. Grows Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Daiwa Securities Group Inc. lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 14.0% during the third quarter, Holdings Channel reports. The institutional investor owned 34,029 shares of the oil and natural gas company’s stock after buying an additional 4,170 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Diamondback Energy were worth $5,867,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FANG. Quent Capital LLC increased its position in Diamondback Energy by 7.2% during 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 increased its holdings in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Financial Advocates Investment Management increased its holdings in shares of Diamondback Energy by 3.0% during the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after acquiring an additional 55 shares in the last quarter. Sugarloaf Wealth Management LLC raised its position in shares of Diamondback Energy by 0.3% in 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% in the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock worth $82,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on FANG shares. Piper Sandler raised their price target on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. started coverage on Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price target for the company. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $205.00 to $215.00 in a report on Friday, October 4th. Evercore ISI reduced their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Finally, Susquehanna dropped their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $212.00.

Diamondback Energy Stock Performance

FANG opened at $175.97 on Wednesday. The firm’s fifty day simple moving average is $182.17 and its two-hundred day simple moving average is $190.28. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The company has a market cap of $51.38 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 1.36 and a beta of 1.89. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm posted $5.49 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Equities analysts anticipate that Diamondback Energy, Inc. will post 16.35 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Insider Activity at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated 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 approximately $181,732,485.09. This represents a 92.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate 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.