Crescent Grove Advisors LLC Has $242,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Crescent Grove Advisors LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 34.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,405 shares of the oil and natural gas company’s stock after purchasing an additional 360 shares during the period. Crescent Grove Advisors LLC’s holdings in Diamondback Energy were worth $242,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Diamondback Energy by 178.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock valued at $6,112,000 after purchasing an additional 19,552 shares in the last quarter. Cullen Investment Group LTD. raised its holdings in Diamondback Energy by 33.5% in the 3rd quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after buying an additional 3,008 shares during the last quarter. ORG Partners LLC boosted its position in Diamondback Energy by 2,768.9% during the 2nd quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock worth $883,000 after buying an additional 4,181 shares during the period. Homestead Advisers Corp bought a new stake in Diamondback Energy during the 1st quarter worth approximately $87,940,000. Finally, Clearbridge Investments LLC acquired a new position in Diamondback Energy in the 1st quarter valued at approximately $40,533,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 4.5 %

Shares of Diamondback Energy stock opened at $183.62 on Thursday. The stock has a market capitalization of $54.12 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The stock has a 50 day moving average price of $182.34 and a two-hundred day moving average price of $192.55. 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 (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business posted $5.49 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 17.1 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.96%. Diamondback Energy’s dividend payout ratio is presently 18.60%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. StockNews.com cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Tuesday. Piper Sandler upped their price target on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Benchmark restated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. Truist Financial lifted their price objective on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Wolfe Research began coverage on shares of Diamondback Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Two investment analysts have rated the stock with a sell rating, four 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.64.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by 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.