Oxbow Advisors LLC lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 232.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,421 shares of the oil and natural gas company's stock after buying an additional 10,780 shares during the period. Oxbow Advisors LLC's holdings in Diamondback Energy were worth $2,659,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of FANG. Price T Rowe Associates Inc. MD grew its holdings in shares of Diamondback Energy by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company's stock valued at $1,706,076,000 after acquiring an additional 2,381,488 shares in the last quarter. Boston Partners raised its position in Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company's stock worth $541,844,000 after acquiring an additional 1,916,900 shares during the period. Homestead Advisers Corp purchased a new position in Diamondback Energy in the first quarter valued at about $87,940,000. Bank of New York Mellon Corp increased its stake in shares of Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company's stock worth $603,038,000 after purchasing an additional 415,902 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Diamondback Energy by 280.8% in the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company's stock valued at $109,144,000 after purchasing an additional 402,026 shares during the last quarter. Institutional investors own 90.01% of the company's stock.
Several research analysts recently commented on FANG shares. Scotiabank cut their price objective on shares of Diamondback Energy from $245.00 to $225.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Wolfe Research began coverage on Diamondback Energy in a research note on Thursday, July 18th. They issued a "peer perform" rating for the company. Morgan Stanley upped their price target on Diamondback Energy from $185.00 to $198.00 and gave the company an "overweight" rating in a research report on Monday, September 16th. 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 note on Wednesday, October 16th. Finally, Barclays upgraded shares of Diamondback Energy from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of "Moderate Buy" and an average target price of $209.64.
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Shares of NASDAQ FANG traded up $0.29 during midday trading on Friday, hitting $181.88. The stock had a trading volume of 2,579,217 shares, compared to its average volume of 1,845,321. The company has a market cap of $53.61 billion, a P/E ratio of 10.41, a PEG ratio of 1.29 and a beta of 1.89. The company has a quick ratio of 3.64, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The business's 50 day moving average is $181.77 and its 200-day moving average is $192.33. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same period last year, the firm posted $5.49 EPS. Diamondback Energy's quarterly revenue was up 13.0% compared to the same quarter last year. As a group, analysts predict that Diamondback Energy, Inc. will post 17.1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, November 14th. Diamondback Energy's dividend payout ratio (DPR) is presently 20.61%.
In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was 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 directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by corporate insiders.
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.
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