Exchange Traded Concepts LLC Has $866,000 Position in Diamondback Energy, Inc. $FANG

Exchange Traded Concepts LLC increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 944.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,050 shares of the oil and natural gas company’s stock after acquiring an additional 5,471 shares during the period. Exchange Traded Concepts LLC’s holdings in Diamondback Energy were worth $866,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Diamondback Energy by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock valued at $3,204,894,000 after purchasing an additional 388,512 shares during the period. Boston Partners boosted its stake in Diamondback Energy by 2.8% in the 2nd quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock valued at $766,914,000 after purchasing an additional 151,150 shares during the period. Geode Capital Management LLC grew its stake in shares of Diamondback Energy by 2.7% in the second quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock valued at $746,526,000 after acquiring an additional 142,649 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Diamondback Energy by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after purchasing an additional 384,971 shares during the period. Finally, Raymond James Financial Inc. increased its stake in Diamondback Energy by 9.2% during the 2nd quarter. Raymond James Financial Inc. now owns 1,952,276 shares of the oil and natural gas company’s stock worth $268,243,000 after acquiring an additional 164,293 shares during the period. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Diamondback Energy

In other news, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the sale, the director directly owned 1,044,864 shares in the company, valued at approximately $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the subject of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $183.00 price target on shares of Diamondback Energy in a report on Thursday, November 20th. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. Piper Sandler cut their target price on Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Mizuho set a $194.00 price objective on Diamondback Energy in a research note on Friday, December 12th. Finally, UBS Group boosted their price target on shares of Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $188.76.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $146.31 on Monday. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $180.91. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. The stock has a market cap of $41.90 billion, a P/E ratio of 10.17 and a beta of 0.63. The business’s 50-day moving average price is $148.38 and its two-hundred day moving average price is $144.91.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. The business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The firm’s revenue was up 48.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.19 earnings per share. As a group, equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, November 13th. Diamondback Energy’s dividend payout ratio is 27.80%.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.