Diamondback Energy, Inc. $FANG Stock Position Lifted by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,325,287 shares of the oil and natural gas company’s stock after purchasing an additional 388,512 shares during the quarter. Vanguard Group Inc. owned about 8.06% of Diamondback Energy worth $3,204,894,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nuveen LLC bought a new position in shares of Diamondback Energy in the first quarter valued at approximately $230,039,000. Adage Capital Partners GP L.L.C. bought a new stake in Diamondback Energy during the first quarter worth approximately $77,622,000. Wellington Management Group LLP lifted its position in Diamondback Energy by 27.3% in the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock worth $311,792,000 after purchasing an additional 418,431 shares during the period. Bank of New York Mellon Corp boosted its stake in Diamondback Energy by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock valued at $637,841,000 after purchasing an additional 384,971 shares in the last quarter. Finally, Boston Partners boosted its stake in Diamondback Energy by 4.8% during the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock valued at $861,961,000 after purchasing an additional 249,098 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the subject of several research analyst reports. KeyCorp cut their price objective on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Piper Sandler dropped 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. Morgan Stanley restated an “overweight” rating and set a $183.00 price objective on shares of Diamondback Energy in a research report on Thursday. Wall Street Zen upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Roth Capital set a $162.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $188.77.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $146.25 on Friday. The company’s fifty day moving average is $143.30 and its two-hundred day moving average is $142.40. The company has a market cap of $41.91 billion, a P/E ratio of 10.16 and a beta of 0.99. 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.

Diamondback Energy (NASDAQ:FANG) last issued its 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 business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.Diamondback Energy’s revenue was up 48.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.19 earnings per share. Equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

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

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.