Townsquare Capital LLC Boosts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Townsquare Capital LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 344.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,608 shares of the oil and natural gas company’s stock after purchasing an additional 21,400 shares during the period. Townsquare Capital LLC’s holdings in Diamondback Energy were worth $4,760,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC lifted its stake in shares of Diamondback Energy by 74.1% during the first quarter. Janus Henderson Group PLC now owns 39,485 shares of the oil and natural gas company’s stock valued at $7,824,000 after buying an additional 16,804 shares during the period. Tidal Investments LLC raised its holdings in Diamondback Energy by 65.8% in the 1st quarter. Tidal Investments LLC now owns 14,786 shares of the oil and natural gas company’s stock valued at $2,929,000 after acquiring an additional 5,869 shares during the last quarter. Comerica Bank lifted its stake in shares of Diamondback Energy by 3.0% during the 1st quarter. Comerica Bank now owns 67,093 shares of the oil and natural gas company’s stock worth $13,296,000 after purchasing an additional 1,985 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of Diamondback Energy by 5.6% during the first quarter. Citizens Financial Group Inc. RI now owns 2,098 shares of the oil and natural gas company’s stock worth $416,000 after purchasing an additional 111 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Diamondback Energy in the first quarter valued at $73,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

Shares of FANG stock opened at $176.19 on Friday. The company has a market capitalization of $51.45 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 1.32 and a beta of 1.89. The firm has a fifty day simple moving average of $182.02 and a 200-day simple moving average of $190.08. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its 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 during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company posted $5.49 earnings per share. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities research analysts anticipate that Diamondback Energy, Inc. will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend 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 (DPR) is 20.61%.

Insider Buying and Selling at Diamondback Energy

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

Analysts Set New Price Targets

FANG has been the topic of several recent analyst reports. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Citigroup initiated coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price on the stock. UBS Group dropped their price target on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Piper Sandler upped their price target on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Truist Financial upped their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have assigned 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, the company currently has an average rating of “Moderate Buy” and an average target price of $212.00.

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.