QSM Asset Management Ltd Takes $4.31 Million Position in Diamondback Energy, Inc. $FANG

QSM Asset Management Ltd purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 30,500 shares of the oil and natural gas company’s stock, valued at approximately $4,309,000. Diamondback Energy makes up about 3.1% of QSM Asset Management Ltd’s investment portfolio, making the stock its 15th largest position.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FANG shares. Susquehanna decreased their target price on Diamondback Energy to $188.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Mizuho set a $194.00 price objective on shares of Diamondback Energy in a research report on Friday, December 12th. Wall Street Zen raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Roth Capital set a $162.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $183.00 price target on shares of Diamondback Energy in a report on Thursday, November 20th. One 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 company’s stock. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Buy” and an average price target of $188.76.

Insider Buying and Selling

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the transaction, the director directly owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. This trade represents a 26.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by insiders.

Diamondback Energy Stock Down 0.5%

Shares of NASDAQ FANG opened at $147.47 on Friday. 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 company has a market cap of $42.23 billion, a P/E ratio of 10.25 and a beta of 0.63. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $180.91. The business has a 50-day simple moving average of $148.24 and a two-hundred day simple moving average of $144.92.

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

Diamondback Energy Announces Dividend

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