HBK Investments L P Takes $517,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

HBK Investments L P bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,000 shares of the oil and natural gas company’s stock, valued at approximately $517,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. grew its stake in Diamondback Energy by 4.0% in the third quarter. Rockefeller Capital Management L.P. now owns 243,444 shares of the oil and natural gas company’s stock valued at $41,977,000 after purchasing an additional 9,284 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Diamondback Energy by 6.5% in the third quarter. Hantz Financial Services Inc. now owns 21,431 shares of the oil and natural gas company’s stock valued at $3,695,000 after purchasing an additional 1,317 shares in the last quarter. Public Sector Pension Investment Board grew its stake in Diamondback Energy by 5.3% in the third quarter. Public Sector Pension Investment Board now owns 32,617 shares of the oil and natural gas company’s stock valued at $5,623,000 after purchasing an additional 1,650 shares in the last quarter. MetLife Investment Management LLC grew its stake in Diamondback Energy by 2.5% in the third quarter. MetLife Investment Management LLC now owns 48,738 shares of the oil and natural gas company’s stock valued at $8,402,000 after purchasing an additional 1,180 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its stake in Diamondback Energy by 39.2% in the third quarter. CreativeOne Wealth LLC now owns 7,194 shares of the oil and natural gas company’s stock valued at $1,240,000 after purchasing an additional 2,027 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of a number of analyst reports. Evercore ISI reduced their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Benchmark reaffirmed a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. JPMorgan Chase & Co. began coverage on Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price objective for the company. KeyCorp cut their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $212.00.

Diamondback Energy Trading Up 0.1 %

FANG stock opened at $176.19 on Friday. The business has a fifty day moving average price of $182.02 and a 200 day moving average price of $190.08. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The stock has a market capitalization of $51.45 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 1.30 and a beta of 1.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the business earned $5.49 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts expect that Diamondback Energy, Inc. will post 16.26 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.04%. Diamondback Energy’s dividend payout ratio is 20.61%.

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.