Meeder Advisory Services Inc. Has $697,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Meeder Advisory Services Inc. grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 33.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,481 shares of the oil and natural gas company’s stock after acquiring an additional 869 shares during the period. Meeder Advisory Services Inc.’s holdings in Diamondback Energy were worth $697,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in Diamondback Energy by 38.2% in the first 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 increased its stake in shares of Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after acquiring an additional 1,916,900 shares during the last quarter. Homestead Advisers Corp acquired a new stake in shares of Diamondback Energy in the 1st quarter valued at approximately $87,940,000. Bank of New York Mellon Corp grew its holdings 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 valued at $603,038,000 after purchasing an additional 415,902 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new stake in Diamondback Energy in the first quarter worth $77,510,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FANG. StockNews.com cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Truist Financial raised their price target on Diamondback Energy from $249.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Scotiabank decreased their price objective on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Benchmark reissued a “buy” rating and set a $154.00 target price on shares of Diamondback Energy in a research note on Tuesday, August 6th. Finally, Piper Sandler cut their price target on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Diamondback Energy Trading Up 0.9 %

NASDAQ FANG opened at $172.42 on Friday. The company has a market cap of $30.76 billion, a PE ratio of 9.72, a PEG ratio of 1.06 and a beta of 1.89. Diamondback Energy, Inc. has a 12 month low of $143.08 and a 12 month high of $214.50. The stock has a 50 day moving average of $194.77 and a 200-day moving average of $195.75. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data 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. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.68 EPS. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared 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%. 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 20.29%.

About Diamondback Energy

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.