Swedbank AB Has $26.71 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Swedbank AB increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 69.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 154,922 shares of the oil and natural gas company’s stock after purchasing an additional 63,360 shares during the quarter. Swedbank AB’s holdings in Diamondback Energy were worth $26,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Community Trust NA acquired a new position in shares of Diamondback Energy during the 2nd quarter worth $26,000. Carolinas Wealth Consulting LLC grew its position in shares of Diamondback Energy by 67.1% in 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 buying an additional 55 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at about $40,000. Founders Capital Management lifted its stake in shares of Diamondback Energy by 99.2% in 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 stake in shares of Diamondback Energy by 28.1% in 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. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 1.5 %

Shares of FANG opened at $182.46 on Thursday. The business’s 50 day moving average is $186.94 and its 200 day moving average is $194.99. The company has a market capitalization of $32.54 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. 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 (NASDAQ:FANG) last issued its 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 company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the company earned $3.68 EPS. The firm’s quarterly revenue was up 29.4% on a year-over-year basis. Research analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

Wall Street Analyst Weigh In

FANG has been the subject of several analyst reports. Citigroup initiated coverage on Diamondback Energy in a research note on Monday. They issued a “neutral” rating and a $195.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $220.00 price objective on shares of Diamondback Energy in a report on Tuesday, September 17th. JPMorgan Chase & Co. assumed coverage on Diamondback Energy in a report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price for the company. StockNews.com cut Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Finally, Scotiabank cut their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.32.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % 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. Company insiders own 0.48% of the company’s stock.

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.