Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Cqs Us LLC

Cqs Us LLC lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 35,700 shares of the oil and natural gas company’s stock after selling 3,000 shares during the period. Diamondback Energy makes up approximately 1.9% of Cqs Us LLC’s investment portfolio, making the stock its 16th largest position. Cqs Us LLC’s holdings in Diamondback Energy were worth $7,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Diamondback Energy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after acquiring an additional 176,208 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Diamondback Energy by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after buying an additional 2,381,488 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Diamondback Energy by 16.0% during the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after buying an additional 415,902 shares during the period. Boston Partners boosted its position in Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after acquiring an additional 1,916,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Diamondback Energy by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,213,631 shares of the oil and natural gas company’s stock worth $343,296,000 after acquiring an additional 188,590 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 2.3 %

FANG stock traded down $4.28 during midday trading on Friday, hitting $179.73. 1,505,623 shares of the company’s stock were exchanged, compared to its average volume of 1,528,718. The firm has a 50 day moving average price of $198.04 and a 200-day moving average price of $195.81. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50. The stock has a market capitalization of $32.05 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89. 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 posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The firm 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%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.68 EPS. On average, analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS 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 represents a dividend yield of 1.9%. This is an increase from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s payout ratio is 20.29%.

Analysts Set New Price Targets

A number of research analysts have weighed in on FANG shares. Benchmark reissued a “buy” rating and set a $154.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 6th. Sanford C. Bernstein cut their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Susquehanna lowered their price target on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating for the company in a research report on Wednesday. Piper Sandler cut their price objective on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, StockNews.com cut Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

Diamondback Energy 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.