Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Lifted by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,064 shares of the oil and natural gas company’s stock after buying an additional 1,752 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Diamondback Energy were worth $5,700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FANG. Price T Rowe Associates Inc. MD increased its stake in Diamondback Energy by 38.2% during 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 buying an additional 2,381,488 shares during the period. Boston Partners increased its stake in shares of Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after acquiring an additional 1,916,900 shares during the period. Homestead Advisers Corp bought a new stake in Diamondback Energy during the first quarter worth approximately $87,940,000. Bank of New York Mellon Corp lifted its position in Diamondback Energy by 16.0% in the second 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 purchasing an additional 415,902 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Diamondback Energy by 280.8% during the 2nd 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 in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 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 Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Performance

Shares of FANG opened at $181.88 on Friday. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week 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. The company has a market capitalization of $53.61 billion, a PE ratio of 10.41, a PEG ratio of 1.26 and a beta of 1.89. The company’s 50 day moving average price is $181.77 and its 200 day moving average price is $192.33.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 17.64% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company posted $5.49 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. Research analysts expect that Diamondback Energy, Inc. will post 17.1 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Analyst Ratings Changes

FANG has been the subject of several research analyst reports. Piper Sandler upped their price objective on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Benchmark reiterated a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. Evercore ISI cut their target price on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Wednesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.64.

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.