Creative Planning Purchases 1,004 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Creative Planning grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,391 shares of the oil and natural gas company’s stock after acquiring an additional 1,004 shares during the period. Creative Planning’s holdings in Diamondback Energy were worth $5,929,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Diamondback Energy by 38.2% in the 1st 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 purchasing an additional 2,381,488 shares during the last quarter. Boston Partners lifted its position in Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after buying an additional 1,916,900 shares in the last quarter. Homestead Advisers Corp bought a new stake in Diamondback Energy during the 1st quarter worth about $87,940,000. Bank of New York Mellon Corp grew its holdings in Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after acquiring an additional 415,902 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Diamondback Energy by 280.8% in the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock worth $109,144,000 after acquiring an additional 402,026 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $181.12 on Thursday. 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, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The company’s 50 day moving average price is $185.42 and its two-hundred day moving average price is $194.34. The company has a market capitalization of $32.30 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The firm had revenue of $2.48 billion during 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 revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.68 EPS. On average, analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a dividend of $2.34 per share. The ex-dividend date was Thursday, August 15th. This is an increase 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 presently 20.29%.

Insider Activity 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 completion of the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. KeyCorp decreased their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Wolfe Research began coverage on Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Benchmark upped their price target on Diamondback Energy from $154.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $210.09.

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.