Banco Santander S.A. Grows Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Banco Santander S.A. boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,199 shares of the oil and natural gas company’s stock after buying an additional 6,957 shares during the period. Banco Santander S.A.’s holdings in Diamondback Energy were worth $13,999,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after acquiring an additional 2,381,488 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after purchasing an additional 415,902 shares in the last quarter. Boston Partners raised its stake in Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after purchasing an additional 1,916,900 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Diamondback Energy by 9.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after buying an additional 230,689 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Diamondback Energy by 10.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock valued at $538,547,000 after buying an additional 247,065 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

FANG opened at $183.39 on Thursday. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The company has a market cap of $53.55 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 1.32 and a beta of 1.89. 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 company’s 50 day moving average is $181.65 and its 200 day moving average is $191.00.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS 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 company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the company earned $5.49 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Diamondback Energy, Inc. will post 16.37 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be paid a $0.90 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.96%. Diamondback Energy’s payout ratio is presently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated Monday, September 23rd. The shares were 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 owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 92.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FANG shares. Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Benchmark reiterated a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th. Piper Sandler boosted their target price on Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Evercore ISI reduced their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Finally, Johnson Rice lowered shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

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.