Cqs Us LLC Decreases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Cqs Us LLC decreased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,700 shares of the oil and natural gas company’s stock after selling 3,000 shares during the quarter. Diamondback Energy comprises 1.9% of Cqs Us LLC’s holdings, making the stock its 16th biggest position. Cqs Us LLC’s holdings in Diamondback Energy were worth $7,147,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted 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 during the last quarter. Boston Partners grew its holdings 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 acquiring an additional 1,916,900 shares during the period. Homestead Advisers Corp acquired a new position in Diamondback Energy in the first quarter valued at approximately $87,940,000. Bank of New York Mellon Corp boosted its position in Diamondback Energy by 16.0% in the 2nd 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. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Diamondback Energy during the 1st quarter worth approximately $77,510,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FANG has been the topic of a number of recent analyst reports. Scotiabank lowered their price target on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. StockNews.com downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Mizuho boosted their price objective on Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Wolfe Research initiated coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Truist Financial lifted their price objective on Diamondback Energy from $249.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

Diamondback Energy Stock Performance

NASDAQ FANG traded down $4.28 during trading hours on Friday, hitting $179.73. The company had a trading volume of 1,505,623 shares, compared to its average volume of 1,528,718. The business has a 50 day moving average of $198.04 and a 200-day moving average of $195.81. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. Diamondback Energy, Inc. has a 1-year low of $143.08 and a 1-year high of $214.50. The company has a market cap of $32.05 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the business earned $3.68 EPS. Diamondback Energy’s quarterly revenue was up 29.4% compared to the same quarter last year. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 19.08 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%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. Diamondback Energy’s payout ratio is 20.29%.

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.