Brown Brothers Harriman & Co. Purchases 96 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Brown Brothers Harriman & Co. raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 27.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 443 shares of the oil and natural gas company’s stock after buying an additional 96 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Diamondback Energy were worth $76,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Diamondback Energy by 178.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after buying an additional 19,552 shares during the period. Atria Investments Inc boosted its holdings in shares of Diamondback Energy by 18.5% in the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock worth $7,358,000 after acquiring an additional 6,672 shares during the period. Cullen Investment Group LTD. raised its stake in shares of Diamondback Energy by 33.5% during the 3rd quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after purchasing an additional 3,008 shares during the period. ORG Partners LLC raised its stake in shares of Diamondback Energy by 2,768.9% during the 2nd quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock valued at $883,000 after purchasing an additional 4,181 shares during the period. Finally, Integrated Investment Consultants LLC bought a new position in Diamondback Energy in the 3rd quarter worth about $4,464,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Scotiabank decreased their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler upped their target price on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Truist Financial raised their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Susquehanna decreased their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Finally, UBS Group dropped their price objective on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average target price of $212.00.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $176.19 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The company has a market capitalization of $51.45 billion, a P/E ratio of 10.09, a PEG ratio of 1.32 and a beta of 1.89. The stock has a 50 day moving average price of $182.02 and a two-hundred day moving average price of $190.08.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the company earned $5.49 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Analysts expect that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.04%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy 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 sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

About Diamondback Energy

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.