Point72 Europe London LLP Buys Shares of 62,474 Diamondback Energy, Inc. (NASDAQ:FANG)

Point72 Europe London LLP purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 62,474 shares of the oil and natural gas company’s stock, valued at approximately $10,771,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in Diamondback Energy by 178.1% during 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 purchasing an additional 19,552 shares during the period. Atria Investments Inc increased its stake in shares of Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock worth $7,358,000 after buying an additional 6,672 shares during the period. Cullen Investment Group LTD. lifted its stake in 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 lifted its stake in Diamondback Energy by 2,768.9% in 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 during the last quarter. Finally, Integrated Investment Consultants LLC acquired a new position in Diamondback Energy during the 3rd quarter worth approximately $4,464,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction on 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 directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Up 0.8 %

FANG opened at $177.59 on Friday. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The firm has a market cap of $51.85 billion, a P/E ratio of 10.17, a PEG ratio of 1.30 and a beta of 1.89. The business’s fifty day simple moving average is $181.95 and its 200 day simple moving average is $189.92. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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 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 last year, the business earned $5.49 EPS. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 16.26 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders 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 (DPR) is presently 20.61%.

Analyst Ratings Changes

FANG has been the topic of several research analyst reports. UBS Group cut their target price on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. started coverage on shares of Diamondback Energy in a report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price objective on the stock. Truist Financial upped their target price on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Finally, BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $205.00 to $215.00 in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $212.00.

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.