Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Boosted by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 1,320.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,578 shares of the oil and natural gas company’s stock after acquiring an additional 64,678 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Diamondback Energy were worth $13,929,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. lifted its holdings in shares of Diamondback Energy by 31.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,062 shares of the oil and natural gas company’s stock valued at $413,000 after purchasing an additional 494 shares during the last quarter. Heritage Wealth Management Inc. acquired a new stake in Diamondback Energy during the 2nd quarter worth about $966,000. Sanctuary Advisors LLC acquired a new position in shares of Diamondback Energy in the second quarter worth about $10,229,000. Clearbridge Investments LLC increased its position in shares of Diamondback Energy by 45.1% in the second quarter. Clearbridge Investments LLC now owns 296,752 shares of the oil and natural gas company’s stock worth $59,407,000 after acquiring an additional 92,213 shares in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the second quarter valued at approximately $402,000. 90.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on FANG. Sanford C. Bernstein lowered their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. KeyCorp initiated coverage on shares of Diamondback Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $225.00 target price for the company. Morgan Stanley upped their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Truist Financial dropped their price target on Diamondback Energy from $255.00 to $220.00 and set a “buy” rating for the company in a report on Monday. Finally, Jefferies Financial Group began coverage on shares of Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $207.68.

Diamondback Energy Stock Performance

FANG opened at $188.30 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The company has a market capitalization of $33.58 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89. The business has a fifty day simple moving average of $187.52 and a 200 day simple moving average of $195.20. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating 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 business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the company posted $3.68 earnings per share. Diamondback Energy’s revenue was up 29.4% compared to the same quarter last year. Research analysts expect that Diamondback Energy, Inc. will post 18.97 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $2.34 dividend. The ex-dividend date was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Insider Activity at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction that occurred 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 approximately $181,732,485.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by insiders.

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.