Paloma Partners Management Co Invests $19.16 Million in Diamondback Energy, Inc. (NASDAQ:FANG)

Paloma Partners Management Co acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 111,152 shares of the oil and natural gas company’s stock, valued at approximately $19,163,000. Diamondback Energy accounts for approximately 0.5% of Paloma Partners Management Co’s holdings, making the stock its 24th biggest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Diamond Hill Capital Management Inc. grew its position in shares of Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after purchasing an additional 439,579 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Diamondback Energy by 16.0% during the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after purchasing an additional 415,902 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Diamondback Energy by 280.8% during the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock worth $109,144,000 after purchasing an additional 402,026 shares in the last quarter. American Century Companies Inc. grew its position in shares of Diamondback Energy by 195.4% during the second quarter. American Century Companies Inc. now owns 531,162 shares of the oil and natural gas company’s stock worth $106,333,000 after purchasing an additional 351,329 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Diamondback Energy by 17,151.2% during the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock worth $58,620,000 after purchasing an additional 338,050 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In other 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 value of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were 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. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FANG. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. KeyCorp cut their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Finally, Piper Sandler raised their price target 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 issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $212.00.

View Our Latest Report on Diamondback Energy

Diamondback Energy Trading Up 0.8 %

Shares of NASDAQ FANG opened at $177.59 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $181.95 and a two-hundred day simple moving average of $189.82. The firm has a market cap of $51.85 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.31 and a beta of 1.89. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANGGet Free Report) last issued its 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). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $5.49 earnings per share. Analysts expect that Diamondback Energy, Inc. will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.03%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

About Diamondback Energy

(Free Report)

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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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