Creative Planning Has $7.35 Million Position in Diamondback Energy, Inc. $FANG

Creative Planning raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 9.2% during the second quarter, Holdings Channel.com reports. The fund owned 53,454 shares of the oil and natural gas company’s stock after purchasing an additional 4,489 shares during the period. Creative Planning’s holdings in Diamondback Energy were worth $7,345,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FANG. Opinicus Capital Inc. boosted its position in shares of Diamondback Energy by 6.1% in the 2nd quarter. Opinicus Capital Inc. now owns 2,978 shares of the oil and natural gas company’s stock worth $409,000 after purchasing an additional 172 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Diamondback Energy by 7.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 45,860 shares of the oil and natural gas company’s stock worth $6,301,000 after buying an additional 3,125 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Diamondback Energy by 5.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,262,507 shares of the oil and natural gas company’s stock worth $173,468,000 after buying an additional 60,035 shares during the period. Oak Harvest Investment Services grew its position in shares of Diamondback Energy by 4.5% during the 2nd quarter. Oak Harvest Investment Services now owns 42,967 shares of the oil and natural gas company’s stock worth $5,904,000 after buying an additional 1,847 shares during the period. Finally, Brogan Financial Inc. increased its stake in shares of Diamondback Energy by 92.2% in the 2nd quarter. Brogan Financial Inc. now owns 2,422 shares of the oil and natural gas company’s stock valued at $333,000 after acquiring an additional 1,162 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Melius Research began coverage on shares of Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target on the stock. Scotiabank restated an “outperform” rating on shares of Diamondback Energy in a research report on Thursday, October 9th. Piper Sandler dropped their price objective on Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company boosted their target price on Diamondback Energy from $160.00 to $169.00 and gave the company an “overweight” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Buy” and an average price target of $188.82.

Diamondback Energy Stock Down 0.6%

Shares of FANG stock opened at $148.69 on Thursday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $186.07. 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 firm has a fifty day moving average of $143.15 and a 200-day moving average of $142.37. The company has a market capitalization of $42.60 billion, a price-to-earnings ratio of 10.33 and a beta of 0.99.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 27.32% and a return on equity of 9.57%. The company’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.19 EPS. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 13th will be issued a dividend of $1.00 per share. The ex-dividend date is Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. Diamondback Energy’s dividend payout ratio (DPR) is presently 27.80%.

About Diamondback Energy

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.