Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 111.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,263 shares of the oil and natural gas company’s stock after purchasing an additional 1,191 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Diamondback Energy were worth $390,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FANG. First Community Trust NA purchased a new stake in Diamondback Energy during the second quarter valued at about $26,000. Carolinas Wealth Consulting LLC raised 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 during the period. HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the second quarter valued at approximately $40,000. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy in the 3rd quarter valued at approximately $42,000. Finally, Founders Capital Management boosted its stake in Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In related news, 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 transaction of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FANG shares. Jefferies Financial Group initiated coverage on Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 target price for the company. Piper Sandler increased their price objective on Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial raised their price objective on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. UBS Group dropped their target price on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Evercore ISI decreased their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $210.09.

Diamondback Energy Price Performance

NASDAQ FANG opened at $176.65 on Thursday. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The company has a fifty day simple moving average of $183.98 and a 200 day simple moving average of $193.38. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The company has a market cap of $31.50 billion, a P/E ratio of 9.96, a P/E/G ratio of 1.27 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.68 earnings per share. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 17.37 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a $2.34 dividend. This is an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s payout ratio is currently 20.29%.

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.