Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 23.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,859 shares of the oil and natural gas company’s stock after selling 9,083 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Diamondback Energy were worth $5,977,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Diamondback Energy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after acquiring an additional 176,208 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 purchasing an additional 2,381,488 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after purchasing an additional 415,902 shares during the last quarter. Boston Partners grew its holdings 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 worth $541,844,000 after buying an additional 1,916,900 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Diamondback Energy by 3.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 671,921 shares of the oil and natural gas company’s stock valued at $134,512,000 after buying an additional 25,491 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial lifted their target price on shares of Diamondback Energy from $249.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered their price objective on Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. UBS Group increased their target price on Diamondback Energy from $245.00 to $247.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Piper Sandler lowered their price target on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, KeyCorp began coverage on shares of Diamondback Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.45.

Diamondback Energy Stock Down 1.7 %

Shares of Diamondback Energy stock opened at $168.50 on Thursday. The company has a fifty day moving average price of $196.11 and a 200 day moving average price of $195.84. 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, Inc. has a twelve month low of $143.08 and a twelve month high of $214.50. The stock has a market cap of $30.05 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 1.13 and a beta of 1.89.

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. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the firm posted $3.68 earnings per share. The business’s quarterly revenue was up 29.4% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share 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 issued a $2.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a yield of 1.9%. This is an increase from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is currently 20.29%.

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.