QRG Capital Management Inc. Has $1.46 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

QRG Capital Management Inc. boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 14.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,437 shares of the oil and natural gas company’s stock after buying an additional 1,048 shares during the quarter. QRG Capital Management Inc.’s holdings in Diamondback Energy were worth $1,455,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Norden Group LLC acquired a new stake in Diamondback Energy during the 1st quarter valued at approximately $237,000. Csenge Advisory Group bought a new position in Diamondback Energy during the first quarter worth $305,000. Advisory Alpha LLC acquired a new position in Diamondback Energy in the first quarter valued at $292,000. Empirical Finance LLC boosted its position in Diamondback Energy by 2.7% during the first quarter. Empirical Finance LLC now owns 9,440 shares of the oil and natural gas company’s stock valued at $1,871,000 after acquiring an additional 245 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Diamondback Energy by 25.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,419 shares of the oil and natural gas company’s stock worth $1,668,000 after acquiring an additional 1,709 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the 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 transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FANG shares. Evercore ISI dropped their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Wednesday. KeyCorp reduced their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Benchmark reiterated a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Finally, Morgan Stanley raised their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.64.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $181.59 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The firm has a 50-day moving average of $182.34 and a 200-day moving average of $192.55. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The company has a market cap of $53.52 billion, a P/E ratio of 10.42, a P/E/G ratio of 1.26 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted 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 for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 17.64% and a net margin of 33.64%. Diamondback Energy’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $5.49 EPS. Equities research analysts forecast that Diamondback Energy, Inc. will post 17.1 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be paid a $0.90 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.98%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

About Diamondback Energy

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.