MQS Management LLC Buys Shares of 3,566 Diamondback Energy, Inc. (NASDAQ:FANG)

MQS Management LLC bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,566 shares of the oil and natural gas company’s stock, valued at approximately $615,000.

A number of other large investors also recently made changes to their positions in FANG. Wealth Enhancement Advisory Services LLC lifted its position in Diamondback Energy by 178.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after buying an additional 19,552 shares in the last quarter. Cullen Investment Group LTD. increased its stake in shares of Diamondback Energy by 33.5% in the third quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock worth $2,065,000 after acquiring an additional 3,008 shares during the last quarter. ORG Partners LLC raised its holdings in shares of Diamondback Energy by 2,768.9% during the second quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock worth $883,000 after acquiring an additional 4,181 shares in the last quarter. Homestead Advisers Corp purchased a new position in Diamondback Energy in the first quarter valued at about $87,940,000. Finally, Clearbridge Investments LLC purchased a new position in Diamondback Energy in the first quarter valued at about $40,533,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction 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 transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Price Performance

Shares of FANG stock opened at $179.91 on Wednesday. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The company has a market capitalization of $52.53 billion, a P/E ratio of 10.30, a P/E/G ratio of 1.26 and a beta of 1.89. The stock has a 50 day moving average of $181.30 and a two-hundred day moving average of $191.76. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

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 for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the firm earned $5.49 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities analysts expect that Diamondback Energy, Inc. will post 17 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FANG. JPMorgan Chase & Co. assumed coverage on Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price target for the company. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Susquehanna cut their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Truist Financial upped their price objective on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Piper Sandler raised their target price on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $209.64.

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.