Diamondback Energy, Inc. (NASDAQ:FANG) Position Trimmed by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 29.1% in the third quarter, Holdings Channel.com reports. The firm owned 446,560 shares of the oil and natural gas company’s stock after selling 182,981 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Diamondback Energy were worth $76,987,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FANG. First Community Trust NA acquired a new position in Diamondback Energy in the 2nd quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC increased its stake in shares of Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the second quarter worth $40,000. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the third quarter valued at $42,000. Finally, Founders Capital Management grew its stake in Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 125 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

Shares of FANG stock opened at $185.29 on Monday. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The company has a market capitalization of $54.10 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.36 and a beta of 1.89. The stock has a 50 day moving average of $182.15 and a two-hundred day moving average of $190.63. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results 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). 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 firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $5.49 earnings per share. As a group, equities analysts expect that Diamondback Energy, Inc. will post 16.35 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.94%. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s 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 sale, 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. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FANG shares. Truist Financial raised their price target on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. Susquehanna reduced their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $212.00.

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.