Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by abrdn plc

abrdn plc cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,695 shares of the oil and natural gas company’s stock after selling 1,494 shares during the period. abrdn plc’s holdings in Diamondback Energy were worth $9,174,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norden Group LLC purchased a new stake in shares of Diamondback Energy during the 1st quarter valued at $237,000. Private Advisor Group LLC increased its stake in Diamondback Energy by 24.3% during the first quarter. Private Advisor Group LLC now owns 18,987 shares of the oil and natural gas company’s stock worth $3,763,000 after acquiring an additional 3,717 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Diamondback Energy by 16.0% in the 1st quarter. BNP Paribas Financial Markets now owns 328,606 shares of the oil and natural gas company’s stock worth $65,120,000 after purchasing an additional 45,437 shares during the period. Fidelis Capital Partners LLC lifted its stake in shares of Diamondback Energy by 270.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 5,066 shares of the oil and natural gas company’s stock valued at $1,004,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Graypoint LLC grew its holdings in shares of Diamondback Energy by 6.7% during the 1st quarter. Graypoint LLC now owns 1,651 shares of the oil and natural gas company’s stock worth $327,000 after purchasing an additional 103 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

FANG has been the topic of a number of recent research reports. StockNews.com cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Morgan Stanley lifted their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company reiterated a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Sanford C. Bernstein reduced their price objective on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group initiated coverage on Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

Diamondback Energy Stock Down 0.5 %

NASDAQ:FANG opened at $175.81 on Friday. The stock has a 50-day simple moving average of $183.29 and a 200 day simple moving average of $192.99. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The company has a market capitalization of $51.82 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89. 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 the consensus estimate of $4.51 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business’s revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.68 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 17.21 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $2.34 per share. This represents a dividend yield of 1.9%. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. Diamondback Energy’s dividend payout ratio is 18.60%.

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.