Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,167 shares of the oil and natural gas company’s stock after selling 2,079 shares during the period. Diamondback Energy accounts for about 1.0% of Dana Investment Advisors Inc.’s investment portfolio, making the stock its 11th biggest holding. Dana Investment Advisors Inc. owned about 0.08% of Diamondback Energy worth $28,260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FANG. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $1,706,076,000 after buying an additional 2,381,488 shares during the last quarter. Boston Partners lifted its holdings in Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after acquiring an additional 1,916,900 shares during the last quarter. Homestead Advisers Corp acquired a new position in Diamondback Energy in the first quarter valued at approximately $87,940,000. Bank of New York Mellon Corp grew its holdings in shares of Diamondback Energy by 16.0% during the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after purchasing an additional 415,902 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Diamondback Energy by 280.8% during the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock valued at $109,144,000 after purchasing an additional 402,026 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $172.40 on Tuesday. The company has a 50-day moving average of $188.52 and a 200-day moving average of $195.43. The firm has a market cap of $30.75 billion, a price-to-earnings ratio of 9.72, 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. Diamondback Energy, Inc. has a twelve month low of $143.08 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued 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 analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period last year, the firm posted $3.68 earnings per share. Analysts forecast that Diamondback Energy, Inc. will post 18.97 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Johnson Rice lowered Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Sanford C. Bernstein reduced their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 price target for the company. Susquehanna cut their price objective on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Finally, Truist Financial decreased their target price on shares of Diamondback Energy from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $207.76.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s 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 sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.48% of the stock is owned by insiders.

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.