Ninety One UK Ltd Makes New Investment in Diamondback Energy, Inc. $FANG

Ninety One UK Ltd bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 83,064 shares of the oil and natural gas company’s stock, valued at approximately $11,886,000.

Several other institutional investors also recently modified their holdings of FANG. State of Wyoming grew its stake in Diamondback Energy by 21.5% in the 1st quarter. State of Wyoming now owns 848 shares of the oil and natural gas company’s stock valued at $136,000 after purchasing an additional 150 shares during the period. Vident Advisory LLC grew its holdings in Diamondback Energy by 84.2% during the first quarter. Vident Advisory LLC now owns 6,798 shares of the oil and natural gas company’s stock valued at $1,087,000 after purchasing an additional 3,108 shares during the period. Focus Partners Advisor Solutions LLC bought a new position in shares of Diamondback Energy during the 1st quarter worth $328,000. Amundi raised its stake in Diamondback Energy by 0.6% in the 1st quarter. Amundi now owns 695,462 shares of the oil and natural gas company’s stock valued at $111,190,000 after acquiring an additional 3,964 shares during the period. Finally, Advisors Asset Management Inc. raised its position in shares of Diamondback Energy by 2.1% in the first quarter. Advisors Asset Management Inc. now owns 28,239 shares of the oil and natural gas company’s stock valued at $4,515,000 after purchasing an additional 573 shares during the period. 90.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on FANG. UBS Group raised their price objective 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. Susquehanna reduced their price target on Diamondback Energy to $188.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Piper Sandler dropped their price objective on Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $183.00 target price on shares of Diamondback Energy in a report on Thursday, November 20th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $173.00 price objective on shares of Diamondback Energy in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $188.76.

Insider Buying and Selling at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 377,911 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the sale, the director owned 1,044,864 shares in the company, valued at $144,828,599.04. The trade was a 26.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Diamondback Energy Trading Down 0.6%

Shares of Diamondback Energy stock opened at $150.33 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $180.91. The firm has a market cap of $43.05 billion, a PE ratio of 10.45 and a beta of 0.59. The company has a 50 day simple moving average of $148.95 and a two-hundred day simple moving average of $144.96.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The firm’s revenue was up 48.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 EPS. Analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

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

About Diamondback Energy

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.