Americana Partners LLC Increases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Americana Partners LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.5% in the third quarter, HoldingsChannel reports. The firm owned 13,136 shares of the oil and natural gas company’s stock after buying an additional 199 shares during the period. Americana Partners LLC’s holdings in Diamondback Energy were worth $2,265,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FANG. Price T Rowe Associates Inc. MD boosted its stake in Diamondback Energy by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after buying an additional 2,381,488 shares during the period. Boston Partners boosted its stake in Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after buying an additional 1,916,900 shares during the period. Homestead Advisers Corp purchased a new position in Diamondback Energy during the first quarter worth about $87,940,000. Bank of New York Mellon Corp boosted its stake in 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 buying an additional 415,902 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in 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 buying an additional 402,026 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

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 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Scotiabank lowered their target price on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. StockNews.com cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Sanford C. Bernstein reduced their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Finally, Piper Sandler increased their price target on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. One equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $175.81 on Friday. The firm’s fifty day moving average price is $183.29 and its 200 day moving average price is $193.06. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The firm has a market cap of $51.82 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the company earned $3.68 earnings per share. Diamondback Energy’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 17.21 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a dividend of $2.34 per share. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s payout ratio is 18.60%.

Diamondback Energy 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.