Assenagon Asset Management S.A. Buys 34,783 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Assenagon Asset Management S.A. boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 62.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 90,413 shares of the oil and natural gas company’s stock after acquiring an additional 34,783 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Diamondback Energy were worth $15,587,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FANG. First Community Trust NA acquired a new position in Diamondback Energy during the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC lifted its position in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new position in Diamondback Energy during the 2nd quarter valued at about $40,000. Founders Capital Management lifted its position in Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 125 shares during the period. Finally, CVA Family Office LLC lifted its position in Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after purchasing an additional 65 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The stock was 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 approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 1.9 %

Shares of Diamondback Energy stock opened at $184.38 on Friday. The business has a fifty day simple moving average of $184.90 and a two-hundred day simple moving average of $194.10. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The company has a market capitalization of $54.34 billion, a price-to-earnings ratio of 9.53, a P/E/G ratio of 1.27 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64.

Diamondback Energy (NASDAQ:FANG) last announced 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 the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the firm posted $3.68 EPS. The company’s quarterly revenue was up 29.4% on a year-over-year basis. Research analysts forecast that Diamondback Energy, Inc. will post 17.37 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced 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 an increase from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio (DPR) is currently 18.60%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FANG. Evercore ISI cut their target price on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Susquehanna cut their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Citigroup began coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $220.00 target price on shares of Diamondback Energy in a research note on Tuesday, September 17th. Finally, Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

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.