New England Research & Management Inc. Makes New Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

New England Research & Management Inc. acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,075 shares of the oil and natural gas company’s stock, valued at approximately $530,000.

Several other hedge funds have also recently bought and sold shares of FANG. Wealth Enhancement Advisory Services LLC increased its stake in shares of Diamondback Energy by 178.1% in the second 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. Integrated Advisors Network LLC increased its stake in shares of Diamondback Energy by 92.8% in the fourth quarter. Integrated Advisors Network LLC now owns 13,031 shares of the oil and natural gas company’s stock valued at $2,021,000 after buying an additional 6,272 shares in the last quarter. Kapitalo Investimentos Ltda increased its stake in shares of Diamondback Energy by 1,842.5% in the fourth quarter. Kapitalo Investimentos Ltda now owns 4,390 shares of the oil and natural gas company’s stock valued at $681,000 after buying an additional 4,164 shares in the last quarter. Central Valley Advisors LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at $1,801,000. Finally, Schroder Investment Management Group increased its stake in shares of Diamondback Energy by 6.2% in the fourth quarter. Schroder Investment Management Group now owns 144,236 shares of the oil and natural gas company’s stock valued at $22,368,000 after buying an additional 8,418 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FANG. Evercore ISI lowered their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Truist Financial lowered their price objective on Diamondback Energy from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $220.00 price objective on shares of Diamondback Energy in a research report on Tuesday, September 17th. Benchmark lifted their price objective on Diamondback Energy from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Bank of America lifted their price objective on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $209.50.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Up 2.5 %

Shares of NASDAQ:FANG traded up $4.89 during trading on Monday, hitting $199.50. 3,778,939 shares of the company’s stock traded hands, compared to its average volume of 1,685,721. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week 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. The company has a market cap of $35.58 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89. The company has a 50-day moving average price of $187.40 and a 200-day moving average price of $195.27.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share 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 business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the business posted $3.68 EPS. Diamondback Energy’s revenue for the quarter was up 29.4% on a year-over-year basis. As a group, research analysts forecast that Diamondback Energy, Inc. will post 18.97 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid 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 payout ratio is presently 20.29%.

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.