Highbridge Capital Management LLC purchased a new position in shares of Diamondback Energy Inc (NASDAQ:FANG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,855 shares of the oil and natural gas company’s stock, valued at approximately $2,143,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bray Capital Advisors purchased a new stake in Diamondback Energy during the 3rd quarter worth about $116,000. First Hawaiian Bank purchased a new stake in Diamondback Energy during the 3rd quarter worth about $121,000. Captrust Financial Advisors increased its holdings in Diamondback Energy by 99.8% during the 2nd quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock worth $131,000 after purchasing an additional 497 shares during the period. Tower Research Capital LLC TRC increased its holdings in Diamondback Energy by 93.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,217 shares of the oil and natural gas company’s stock worth $165,000 after purchasing an additional 588 shares during the period. Finally, Wedbush Securities Inc. purchased a new stake in Diamondback Energy during the 2nd quarter worth about $201,000.
Several equities research analysts have weighed in on the company. Stephens assumed coverage on Diamondback Energy in a report on Thursday. They set an “overweight” rating and a $177.00 price target on the stock. Jefferies Financial Group assumed coverage on Diamondback Energy in a report on Monday, December 3rd. They set a “buy” rating and a $177.00 price target on the stock. Cowen assumed coverage on Diamondback Energy in a report on Thursday, November 29th. They set an “outperform” rating on the stock. Morgan Stanley cut their price target on Diamondback Energy from $171.00 to $153.00 and set a “buy” rating on the stock in a report on Tuesday, November 20th. Finally, Zacks Investment Research restated a “hold” rating on shares of Diamondback Energy in a report on Tuesday, November 13th. Five investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Diamondback Energy has a consensus rating of “Buy” and a consensus price target of $160.27.
FANG opened at $102.70 on Friday. Diamondback Energy Inc has a one year low of $96.95 and a one year high of $140.78. The stock has a market capitalization of $10.31 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 0.58 and a beta of 0.72. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.15. Diamondback Energy had a return on equity of 10.75% and a net margin of 33.63%. The business had revenue of $538.03 million for the quarter, compared to the consensus estimate of $518.32 million. During the same quarter in the prior year, the business posted $1.33 EPS. The business’s revenue for the quarter was up 78.6% on a year-over-year basis. On average, research analysts expect that Diamondback Energy Inc will post 6.74 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Monday, November 19th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, November 16th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.49%. Diamondback Energy’s payout ratio is currently 9.43%.
In other news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total value of $255,600.00. Following the transaction, the vice president now owns 89,532 shares in the company, valued at approximately $11,442,189.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.
About Diamondback Energy
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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