Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Cullen Investment Group LTD.

Cullen Investment Group LTD. grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 33.5% during the third quarter, HoldingsChannel reports. The firm owned 11,978 shares of the oil and natural gas company’s stock after purchasing an additional 3,008 shares during the quarter. Cullen Investment Group LTD.’s holdings in Diamondback Energy were worth $2,065,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Founders Capital Management increased its position in Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 101 shares during the period. First Community Trust NA purchased a new position in Diamondback Energy in the second quarter worth $26,000. Carolinas Wealth Consulting LLC lifted its holdings in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Logan Capital Management Inc. purchased a new stake in shares of Diamondback Energy during the 4th quarter worth $31,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the 2nd quarter worth $40,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on FANG. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 price objective on the stock. Scotiabank decreased their price target on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Piper Sandler dropped their price objective 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. Finally, Wolfe Research initiated coverage on Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.50.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 3.4 %

Shares of FANG traded up $6.31 during mid-day trading on Friday, reaching $194.61. The company had a trading volume of 3,494,187 shares, compared to its average volume of 1,674,807. The stock has a market cap of $34.71 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The firm has a fifty day simple moving average of $187.40 and a 200-day simple moving average of $195.23. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.68 earnings per share. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 18.97 EPS for the current fiscal 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 paid a dividend of $2.34 per share. This is an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s payout ratio is currently 20.29%.

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.