Massachusetts Financial Services Co. MA Purchases 122,921 Shares of Diamondback Energy, Inc. $FANG

Massachusetts Financial Services Co. MA increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.7% in the third quarter, Holdings Channel.com reports. The firm owned 1,385,428 shares of the oil and natural gas company’s stock after purchasing an additional 122,921 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Diamondback Energy were worth $198,255,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in shares of Diamondback Energy by 70.6% during the second quarter. UMB Bank n.a. now owns 889 shares of the oil and natural gas company’s stock valued at $122,000 after buying an additional 368 shares during the last quarter. CX Institutional grew its position in Diamondback Energy by 35.9% in the 2nd quarter. CX Institutional now owns 4,267 shares of the oil and natural gas company’s stock valued at $586,000 after acquiring an additional 1,128 shares during the last quarter. Silver Oak Securities Incorporated increased its stake in Diamondback Energy by 14.6% in the second quarter. Silver Oak Securities Incorporated now owns 2,122 shares of the oil and natural gas company’s stock worth $292,000 after purchasing an additional 270 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Diamondback Energy by 18.1% during the second quarter. Farther Finance Advisors LLC now owns 1,281 shares of the oil and natural gas company’s stock worth $176,000 after purchasing an additional 196 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Diamondback Energy by 43.0% during the second quarter. GAMMA Investing LLC now owns 5,416 shares of the oil and natural gas company’s stock valued at $744,000 after purchasing an additional 1,628 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Up 0.3%

Shares of NASDAQ FANG opened at $151.28 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $43.33 billion, a PE ratio of 10.51 and a beta of 0.59. The stock’s fifty day simple moving average is $150.50 and its two-hundred day simple moving average is $145.42. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $180.91.

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

Diamondback Energy Announces Dividend

The business 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. This represents a $4.00 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, November 13th. Diamondback Energy’s payout ratio is 27.80%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FANG. Evercore ISI lifted their price objective on shares of Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Mizuho set a $194.00 price target on shares of Diamondback Energy in a research note on Friday, December 12th. Jefferies Financial Group reissued a “hold” rating and issued a $173.00 price objective on shares of Diamondback Energy in a research note on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a report on Monday, December 29th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $183.00 target price on shares of Diamondback Energy in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.64.

Insider Buying and Selling

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the sale, the director directly owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

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.