Bleakley Financial Group LLC Grows Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Bleakley Financial Group LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 10.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,405 shares of the oil and natural gas company’s stock after buying an additional 427 shares during the quarter. Bleakley Financial Group LLC’s holdings in Diamondback Energy were worth $759,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FANG. First Community Trust NA purchased a new stake in Diamondback Energy in the 2nd quarter worth $26,000. Carolinas Wealth Consulting LLC lifted its stake in Diamondback Energy by 67.1% in the 2nd 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 in the last quarter. HHM Wealth Advisors LLC purchased a new stake in Diamondback Energy in the 2nd quarter worth $40,000. Founders Capital Management lifted its stake in Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares in the last quarter. Finally, CVA Family Office LLC lifted its stake in Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on FANG shares. JPMorgan Chase & Co. started coverage on shares of Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price target on the stock. Piper Sandler upped their target price on shares of Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and set a $220.00 target price on shares of Diamondback Energy in a research report on Tuesday, September 17th. KeyCorp decreased their target price on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Citigroup began coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They set a “neutral” rating and a $195.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $210.09.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $182.41 on Tuesday. The firm has a market cap of $32.53 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The firm’s 50 day simple moving average is $185.97 and its 200-day simple moving average is $194.58. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $3.68 earnings per share. As a group, equities analysts predict that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

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

Insider Transactions at Diamondback Energy

In other 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 transaction of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.

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.