Holocene Advisors LP Has $139.04 Million Stake in Diamondback Energy, Inc. $FANG

Holocene Advisors LP raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011,919 shares of the oil and natural gas company’s stock after buying an additional 70,430 shares during the period. Holocene Advisors LP owned 0.35% of Diamondback Energy worth $139,038,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Woodmont Investment Counsel LLC grew its stake in Diamondback Energy by 1,123.0% in the 2nd quarter. Woodmont Investment Counsel LLC now owns 43,515 shares of the oil and natural gas company’s stock valued at $5,979,000 after buying an additional 39,957 shares during the last quarter. NorthRock Partners LLC boosted its holdings in Diamondback Energy by 181.6% during the second quarter. NorthRock Partners LLC now owns 3,551 shares of the oil and natural gas company’s stock valued at $488,000 after acquiring an additional 2,290 shares during the period. Shell Asset Management Co. grew its position in shares of Diamondback Energy by 22.9% in the second quarter. Shell Asset Management Co. now owns 12,998 shares of the oil and natural gas company’s stock valued at $1,786,000 after purchasing an additional 2,423 shares during the last quarter. Vantage Investment Partners LLC grew its position in shares of Diamondback Energy by 4.4% in the second quarter. Vantage Investment Partners LLC now owns 83,184 shares of the oil and natural gas company’s stock valued at $11,429,000 after purchasing an additional 3,476 shares during the last quarter. Finally, Forte Capital LLC ADV increased its stake in shares of Diamondback Energy by 11.3% in the second quarter. Forte Capital LLC ADV now owns 48,237 shares of the oil and natural gas company’s stock worth $6,628,000 after purchasing an additional 4,911 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of Diamondback Energy stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the sale, the director directly owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. The trade was a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

Diamondback Energy Stock Down 0.2%

FANG opened at $156.68 on Friday. The company has a market capitalization of $44.87 billion, a P/E ratio of 10.89 and a beta of 0.63. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The firm’s fifty day moving average price is $147.29 and its two-hundred day moving average price is $144.22. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $180.91.

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

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.6%. Diamondback Energy’s dividend payout ratio (DPR) is currently 27.80%.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $173.00 target price on shares of Diamondback Energy in a report on Friday, October 10th. Mizuho set a $194.00 price objective on shares of Diamondback Energy in a research note on Friday. UBS Group upped their target price on shares of Diamondback Energy from $174.00 to $194.00 and gave the company a “buy” rating in a research note on Friday. Piper Sandler decreased their price target on shares of Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Finally, Melius started coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective on the stock. One investment 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, Diamondback Energy currently has a consensus rating of “Buy” and a consensus target price of $188.76.

Diamondback Energy Company 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.