Diamondback Energy, Inc. $FANG Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 13.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 38,669 shares of the oil and natural gas company’s stock after selling 6,106 shares during the period. IFM Investors Pty Ltd’s holdings in Diamondback Energy were worth $5,733,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Creekmur Asset Management LLC purchased a new position in shares of Diamondback Energy in the second quarter worth $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $29,000. Estabrook Capital Management acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $41,000. Creative Financial Designs Inc. ADV raised its stake in Diamondback Energy by 49.6% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 368 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 122 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Diamondback Energy during the 2nd quarter worth about $54,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the topic of a number of research reports. Roth Capital set a $162.00 price objective on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, November 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $173.00 price target on shares of Diamondback Energy in a report on Friday, October 10th. Piper Sandler reduced their price target on shares of Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a report on Monday. Finally, KeyCorp cut their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 3rd. One research 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 stock. According to MarketBeat, Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $188.76.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $147.47 on Friday. The company’s fifty day moving average price is $148.24 and its 200 day moving average price is $144.92. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $180.91. The company has a market capitalization of $42.23 billion, a PE ratio of 10.25 and a beta of 0.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62.

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

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. Diamondback Energy’s dividend payout ratio is presently 27.80%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $138.61, for a total value 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. This trade represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% 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.