Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,282,557 shares of the oil and natural gas company’s stock after acquiring an additional 87,288 shares during the period. Dimensional Fund Advisors LP owned 1.28% of Diamondback Energy worth $456,930,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FANG. QRG Capital Management Inc. boosted its stake in Diamondback Energy by 19.7% in the fourth quarter. QRG Capital Management Inc. now owns 2,085 shares of the oil and natural gas company’s stock valued at $323,000 after acquiring an additional 343 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Diamondback Energy by 16.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,710 shares of the oil and natural gas company’s stock worth $1,041,000 after buying an additional 941 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Diamondback Energy by 3.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,004 shares of the oil and natural gas company’s stock worth $776,000 after buying an additional 169 shares during the period. Beacon Pointe Advisors LLC boosted its position in shares of Diamondback Energy by 18.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 7,021 shares of the oil and natural gas company’s stock worth $1,089,000 after buying an additional 1,097 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in shares of Diamondback Energy by 25.5% during the fourth quarter. Panagora Asset Management Inc. now owns 11,638 shares of the oil and natural gas company’s stock worth $1,805,000 after buying an additional 2,362 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

NASDAQ FANG opened at $174.81 on Tuesday. The stock has a market capitalization of $31.18 billion, a P/E ratio of 9.85, a P/E/G ratio of 1.06 and a beta of 1.89. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50. The business’s fifty day moving average is $194.20 and its two-hundred day moving average is $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 (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the company posted $3.68 EPS. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, research analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $2.34 per share. This represents a yield of 1.9%. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s payout ratio is presently 20.29%.

Analyst Upgrades and Downgrades

FANG has been the subject of several analyst reports. StockNews.com downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. UBS Group boosted their price objective on Diamondback Energy from $245.00 to $247.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Truist Financial boosted 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. Piper Sandler reduced their price objective on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, Scotiabank dropped their target price on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $210.86.

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.