Diamondback Energy, Inc. (NASDAQ:FANG) Short Interest Update

Diamondback Energy, Inc. (NASDAQ:FANG) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 5,590,000 shares, a growth of 11.6% from the September 15th total of 5,010,000 shares. Based on an average trading volume of 1,970,000 shares, the days-to-cover ratio is presently 2.8 days.

Insiders Place Their Bets

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Diamondback Energy by 2.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,467 shares of the oil and natural gas company’s stock valued at $3,184,000 after buying an additional 513 shares in the last quarter. TruWealth Advisors LLC boosted its position in shares of Diamondback Energy by 3.4% in the third quarter. TruWealth Advisors LLC now owns 95,505 shares of the oil and natural gas company’s stock valued at $16,465,000 after acquiring an additional 3,118 shares during the period. Secure Asset Management LLC grew its stake in Diamondback Energy by 30.4% during the third quarter. Secure Asset Management LLC now owns 9,572 shares of the oil and natural gas company’s stock valued at $1,650,000 after acquiring an additional 2,231 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Diamondback Energy by 10.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,405 shares of the oil and natural gas company’s stock worth $759,000 after acquiring an additional 427 shares during the period. Finally, Greenup Street Wealth Management LLC increased its stake in Diamondback Energy by 3.4% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock worth $313,000 after purchasing an additional 60 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FANG shares. Piper Sandler increased their target price on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research note on Tuesday. KeyCorp cut their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $220.00 price target on shares of Diamondback Energy in a report on Tuesday, September 17th. Sanford C. Bernstein decreased their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Finally, Benchmark lifted their price target on Diamondback Energy from $154.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $210.32.

Diamondback Energy Stock Performance

NASDAQ FANG traded down $0.82 on Thursday, hitting $181.64. 814,961 shares of the stock traded hands, compared to its average volume of 1,733,073. The firm has a market capitalization of $32.39 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.22 and a beta of 1.89. The business’s fifty day moving average is $186.94 and its two-hundred day moving average is $194.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. Diamondback Energy has a 12 month low of $145.70 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company earned $3.68 EPS. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. As a group, equities analysts anticipate that Diamondback Energy will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a dividend of $2.34 per share. This is a boost from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. The ex-dividend date was Thursday, August 15th. Diamondback Energy’s dividend payout ratio is presently 20.29%.

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.