Fisher Asset Management LLC Purchases 9,461 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Fisher Asset Management LLC boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,788 shares of the oil and natural gas company’s stock after purchasing an additional 9,461 shares during the period. Fisher Asset Management LLC owned 0.05% of Diamondback Energy worth $26,341,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its holdings in Diamondback Energy by 14.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 34,029 shares of the oil and natural gas company’s stock valued at $5,867,000 after buying an additional 4,170 shares during the last quarter. SevenBridge Financial Group LLC increased its position in Diamondback Energy by 1.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 18,398 shares of the oil and natural gas company’s stock valued at $3,296,000 after acquiring an additional 176 shares during the period. Centaurus Financial Inc. raised its stake in shares of Diamondback Energy by 351.4% during the third quarter. Centaurus Financial Inc. now owns 6,830 shares of the oil and natural gas company’s stock valued at $1,177,000 after acquiring an additional 5,317 shares during the last quarter. Alpha DNA Investment Management LLC lifted its holdings in shares of Diamondback Energy by 13.6% during the third quarter. Alpha DNA Investment Management LLC now owns 3,260 shares of the oil and natural gas company’s stock worth $562,000 after purchasing an additional 391 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Diamondback Energy by 7.8% in the third quarter. Larson Financial Group LLC now owns 16,199 shares of the oil and natural gas company’s stock worth $2,793,000 after purchasing an additional 1,176 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FANG shares. Jefferies Financial Group began coverage on Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 target price on the stock. Susquehanna reduced their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Citigroup initiated coverage on Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target for the company. JPMorgan Chase & Co. initiated coverage on Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price target on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. One research 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $212.00.

Diamondback Energy Trading Down 2.0 %

NASDAQ FANG opened at $175.97 on Wednesday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $182.17 and a 200 day simple moving average of $190.28. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The firm has a market capitalization of $51.38 billion, a P/E ratio of 10.07, a PEG ratio of 1.36 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the company earned $5.49 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 16.35 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s 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.