Moody Aldrich Partners LLC Has $519,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Moody Aldrich Partners LLC grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 41.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,010 shares of the oil and natural gas company’s stock after acquiring an additional 885 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Diamondback Energy were worth $519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Diamondback Energy by 38.2% in 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 acquiring an additional 2,381,488 shares during the last quarter. Boston Partners boosted 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 purchasing an additional 1,916,900 shares in the last quarter. Homestead Advisers Corp bought a new stake in shares of Diamondback Energy during the first quarter worth about $87,940,000. Bank of New York Mellon Corp increased its stake in shares of 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 valued at $603,038,000 after buying an additional 415,902 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Diamondback Energy by 280.8% in 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 buying an additional 402,026 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.1 %

Shares of NASDAQ:FANG opened at $180.91 on Friday. 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 52-week low of $145.70 and a 52-week high of $214.50. The business’s 50 day simple moving average is $185.42 and its two-hundred day simple moving average is $194.34. The firm 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.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly 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 net margin of 37.51% and a return on equity of 19.54%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the firm posted $3.68 EPS. Diamondback Energy’s revenue was up 29.4% compared to the same quarter last year. As a group, research analysts forecast that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the 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 sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $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 available through this hyperlink. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $205.00 to $215.00 in a report on Friday, October 4th. UBS Group reduced their price objective on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Citigroup assumed coverage on Diamondback Energy in a research report on Monday, October 14th. They set a “neutral” rating and a $195.00 target price for the company. Piper Sandler upped their price target on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Wolfe Research initiated coverage on Diamondback Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

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.