BP Capital Fund Advisors LLC raised its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 29.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,612 shares of the oil and natural gas company’s stock after purchasing an additional 7,635 shares during the period. Diamondback Energy accounts for approximately 2.0% of BP Capital Fund Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. BP Capital Fund Advisors LLC’s holdings in Diamondback Energy were worth $4,544,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Diamondback Energy by 13.2% in the 1st quarter. Principal Financial Group Inc. now owns 13,523 shares of the oil and natural gas company’s stock valued at $1,711,000 after purchasing an additional 1,578 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at $1,132,000. Creative Planning acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at $274,000. Daiwa Securities Group Inc. boosted its stake in shares of Diamondback Energy by 4.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 36,469 shares of the oil and natural gas company’s stock valued at $4,798,000 after purchasing an additional 1,692 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Diamondback Energy by 23.8% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,451 shares of the oil and natural gas company’s stock valued at $848,000 after purchasing an additional 1,242 shares in the last quarter.
Several research analysts recently issued reports on the stock. Raymond James reiterated a “buy” rating and set a $166.00 price target on shares of Diamondback Energy in a research report on Monday, August 13th. BMO Capital Markets reiterated a “hold” rating and set a $135.00 price target on shares of Diamondback Energy in a research report on Friday, August 17th. Cowen assumed coverage on shares of Diamondback Energy in a research report on Thursday. They set an “outperform” rating on the stock. TD Securities set a $175.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Saturday, August 11th. Finally, Imperial Capital upped their price target on shares of Diamondback Energy from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, August 10th. Five research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $158.63.
In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total transaction of $255,600.00. Following the completion of the sale, the vice president now directly owns 89,532 shares of the company’s stock, valued at approximately $11,442,189.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.57% of the company’s stock.
Shares of NASDAQ:FANG opened at $112.00 on Friday. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 0.63 and a beta of 0.70. Diamondback Energy Inc has a 1-year low of $103.51 and a 1-year high of $140.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 1.08.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.15. The firm had revenue of $538.03 million during the quarter, compared to analysts’ expectations of $518.32 million. Diamondback Energy had a return on equity of 10.75% and a net margin of 33.63%. The company’s quarterly revenue was up 78.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 EPS. As a group, sell-side analysts expect that Diamondback Energy Inc will post 6.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 26th. Shareholders of record on Monday, November 19th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, November 16th. This represents a $0.50 annualized dividend and a yield of 0.45%. Diamondback Energy’s dividend payout ratio is currently 9.43%.
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Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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