Signaturefd LLC Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Signaturefd LLC boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,944 shares of the oil and natural gas company’s stock after acquiring an additional 92 shares during the period. Signaturefd LLC’s holdings in Diamondback Energy were worth $680,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake 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 valued at $6,112,000 after buying an additional 19,552 shares in the last quarter. Cullen Investment Group LTD. lifted its position in shares of Diamondback Energy by 33.5% in the third 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 acquiring an additional 3,008 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Diamondback Energy by 2,768.9% during the second quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock valued at $883,000 after acquiring an additional 4,181 shares during the last quarter. Homestead Advisers Corp purchased a new stake in Diamondback Energy during the 1st quarter worth about $87,940,000. Finally, Mediolanum International Funds Ltd acquired a new position in Diamondback Energy in the 1st quarter valued at about $5,148,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Diamondback Energy in a research note on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price target on the stock. Truist Financial lifted their target price on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Piper Sandler increased their price target on Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and set a $220.00 price objective on shares of Diamondback Energy in a report on Tuesday, September 17th. Finally, KeyCorp dropped their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $210.09.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $180.91 on Friday. The business’s 50-day simple moving average is $185.42 and its 200 day simple moving average is $194.34. The company has a market cap of $32.26 billion, a P/E ratio of 10.20, a PEG ratio of 1.22 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.68 earnings per share. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.48% of the company’s stock.

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.