Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Maxwell Wealth Strategies Inc.

Maxwell Wealth Strategies Inc. grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 39.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,832 shares of the oil and natural gas company’s stock after purchasing an additional 2,776 shares during the period. Maxwell Wealth Strategies Inc.’s holdings in Diamondback Energy were worth $1,727,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Natixis Advisors LLC raised its stake in Diamondback Energy by 9.1% during the 3rd quarter. Natixis Advisors LLC now owns 170,674 shares of the oil and natural gas company’s stock valued at $29,424,000 after acquiring an additional 14,182 shares in the last quarter. Empirical Finance LLC raised its stake in shares of Diamondback Energy by 2.2% during the third quarter. Empirical Finance LLC now owns 5,941 shares of the oil and natural gas company’s stock valued at $1,024,000 after purchasing an additional 130 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Diamondback Energy by 7.7% in the third quarter. CIBC Asset Management Inc now owns 56,299 shares of the oil and natural gas company’s stock worth $9,706,000 after purchasing an additional 4,020 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co grew its position in Diamondback Energy by 12.0% in the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,669 shares of the oil and natural gas company’s stock valued at $460,000 after buying an additional 286 shares in the last quarter. Finally, ING Groep NV increased its stake in Diamondback Energy by 399.6% during the 3rd quarter. ING Groep NV now owns 18,111 shares of the oil and natural gas company’s stock valued at $3,122,000 after buying an additional 14,486 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the 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 sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 92.72 % 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.

Diamondback Energy Stock Down 3.2 %

Shares of FANG stock opened at $176.60 on Friday. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The stock has a market cap of $51.57 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.30 and a beta of 1.89. The firm’s 50-day moving average is $181.16 and its 200-day moving average is $191.43. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share 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 company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the company earned $5.49 earnings per share. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. Sell-side analysts predict that Diamondback Energy, Inc. will post 16.78 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed 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. This represents a $3.60 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Analysts Set New Price Targets

Several brokerages recently commented on FANG. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $205.00 to $215.00 in a report on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Wednesday, November 6th. Scotiabank cut their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. KeyCorp lowered their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Jefferies Financial Group began coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.64.

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.