Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,412 shares of the oil and natural gas company’s stock after purchasing an additional 12,731 shares during the period. King Luther Capital Management Corp’s holdings in Diamondback Energy were worth $27,827,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FANG. First Community Trust NA acquired a new stake in Diamondback Energy in the second quarter valued at about $26,000. Carolinas Wealth Consulting LLC increased its position in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the 2nd quarter worth $40,000. Values First Advisors Inc. acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at about $42,000. Finally, Founders Capital Management increased its position in shares of Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 125 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 0.8 %

NASDAQ:FANG opened at $182.92 on Friday. The stock’s 50 day moving average price is $181.89 and its 200 day moving average price is $190.94. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The company has a market capitalization of $53.41 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.32 and a beta of 1.89. 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 posted its earnings results 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 return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm posted $5.49 earnings per share. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, research analysts forecast that Diamondback Energy, Inc. will post 16.37 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FANG shares. KeyCorp lowered their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Piper Sandler lifted their price objective on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Wednesday, November 6th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Citigroup assumed coverage on Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $212.00.

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.