Nisa Investment Advisors LLC Purchases 3,127 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Nisa Investment Advisors LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,813 shares of the oil and natural gas company’s stock after buying an additional 3,127 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Diamondback Energy were worth $9,450,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Asahi Life Asset Management CO. LTD. acquired a new position in Diamondback Energy in the third quarter worth about $374,000. Welch Group LLC grew its stake in shares of Diamondback Energy by 18.5% in the 3rd quarter. Welch Group LLC now owns 3,889 shares of the oil and natural gas company’s stock valued at $670,000 after purchasing an additional 606 shares during the period. Inscription Capital LLC raised its holdings in shares of Diamondback Energy by 12.9% in the 3rd quarter. Inscription Capital LLC now owns 6,034 shares of the oil and natural gas company’s stock worth $1,040,000 after buying an additional 688 shares in the last quarter. FCG Investment Co bought a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $499,000. Finally, Montz Harcus Wealth Management LLC boosted its stake in Diamondback Energy by 12.0% in the 3rd quarter. Montz Harcus Wealth Management LLC now owns 1,183 shares of the oil and natural gas company’s stock valued at $204,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.6 %

NASDAQ:FANG opened at $176.65 on Thursday. The firm has a market capitalization of $31.50 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 1.27 and a beta of 1.89. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The business’s 50-day moving average price is $183.98 and its two-hundred day moving average price is $193.38. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. Diamondback Energy’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period last year, the company posted $3.68 EPS. On average, equities analysts expect that Diamondback Energy, Inc. will post 17.37 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a $2.34 dividend. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. This represents a dividend yield of 1.9%. Diamondback Energy’s payout ratio is 20.29%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $220.00 price objective on shares of Diamondback Energy in a report on Tuesday, September 17th. Wolfe Research assumed coverage on shares of Diamondback Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Morgan Stanley upped their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Scotiabank reduced their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

Insider Activity

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is owned by company insiders.

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.