Diamondback Energy, Inc. $FANG Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,600 shares of the oil and natural gas company’s stock after purchasing an additional 2,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Diamondback Energy were worth $9,288,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FANG. UMB Bank n.a. grew its holdings in Diamondback Energy by 172.8% during the 1st quarter. UMB Bank n.a. now owns 521 shares of the oil and natural gas company’s stock valued at $83,000 after purchasing an additional 330 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Diamondback Energy by 36.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,085 shares of the oil and natural gas company’s stock worth $174,000 after acquiring an additional 287 shares in the last quarter. SG Americas Securities LLC grew its holdings in Diamondback Energy by 17.2% during the 1st quarter. SG Americas Securities LLC now owns 50,450 shares of the oil and natural gas company’s stock worth $8,066,000 after acquiring an additional 7,407 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in Diamondback Energy by 7.2% during the 1st quarter. Integrated Advisors Network LLC now owns 2,800 shares of the oil and natural gas company’s stock worth $448,000 after acquiring an additional 187 shares in the last quarter. Finally, CX Institutional acquired a new position in Diamondback Energy during the 1st quarter worth $502,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FANG shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Diamondback Energy in a report on Wednesday. Piper Sandler decreased their price objective on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Morgan Stanley raised their price objective on shares of Diamondback Energy from $184.00 to $186.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Wells Fargo & Company raised their price objective on shares of Diamondback Energy from $210.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Barclays decreased their price objective on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Diamondback Energy has an average rating of “Buy” and a consensus price target of $192.64.

Insiders Place Their Bets

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the sale, the chairman directly owned 102,145 shares in the company, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Down 3.3%

Diamondback Energy stock opened at $144.21 on Friday. The firm’s 50-day moving average is $142.63 and its 200-day moving average is $141.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $197.68. The company has a market cap of $41.75 billion, a P/E ratio of 10.25 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The company’s quarterly revenue was up 48.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.52 earnings per share. On average, equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a $1.00 dividend. The ex-dividend date was Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.8%. Diamondback Energy’s dividend payout ratio (DPR) is currently 28.43%.

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.