Royal London Asset Management Ltd. Purchases 24,855 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Royal London Asset Management Ltd. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 30.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,951 shares of the oil and natural gas company’s stock after buying an additional 24,855 shares during the period. Royal London Asset Management Ltd. owned approximately 0.06% of Diamondback Energy worth $21,411,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of FANG. Cary Street Partners Investment Advisory LLC increased its stake in shares of Diamondback Energy by 1,007.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,845 shares of the oil and natural gas company’s stock valued at $441,000 after acquiring an additional 2,588 shares in the last quarter. Johnson Investment Counsel Inc. bought a new position in Diamondback Energy in the fourth quarter worth approximately $252,000. QRG Capital Management Inc. grew 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. increased its holdings 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 valued at $1,041,000 after acquiring an additional 941 shares in the last quarter. Finally, Ieq Capital LLC raised its position in shares of Diamondback Energy by 20.4% during the fourth quarter. Ieq Capital LLC now owns 7,615 shares of the oil and natural gas company’s stock worth $1,181,000 after purchasing an additional 1,289 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 1.7 %

Shares of FANG stock opened at $168.50 on Thursday. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The firm has a market cap of $30.05 billion, a P/E ratio of 9.50, a PEG ratio of 1.13 and a beta of 1.89. The company has a 50 day moving average of $196.11 and a 200-day moving average of $195.84. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business’s revenue was up 29.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.68 earnings per share. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $2.34 per share. 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. This represents a yield of 1.9%. Diamondback Energy’s dividend payout ratio is 20.29%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler decreased their price target on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Scotiabank lowered their target price on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Susquehanna cut their price target on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Barclays increased their price objective on Diamondback Energy from $214.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Bank of America lifted their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.45.

Diamondback Energy Company 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.