SpiderRock Advisors LLC Has $741,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

SpiderRock Advisors LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 74.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,297 shares of the oil and natural gas company’s stock after acquiring an additional 1,830 shares during the quarter. SpiderRock Advisors LLC’s holdings in Diamondback Energy were worth $741,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FANG. First Community Trust NA bought a new stake in Diamondback Energy in the second quarter worth $26,000. Carolinas Wealth Consulting LLC boosted its stake in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the 2nd quarter valued at about $40,000. Values First Advisors Inc. bought a new position in shares of Diamondback Energy in the 3rd quarter valued at approximately $42,000. Finally, Founders Capital Management lifted its holdings in 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 worth $50,000 after purchasing an additional 125 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Trading Up 0.2 %

Shares of FANG opened at $181.88 on Monday. The company has a current ratio of 0.45, a quick ratio of 3.64 and a debt-to-equity ratio of 0.31. The stock has a market cap of $53.61 billion, a PE ratio of 10.41, a PEG ratio of 1.29 and a beta of 1.89. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The stock has a 50 day simple moving average of $181.77 and a 200-day simple moving average of $192.25.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company earned $5.49 earnings per share. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 17.1 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the topic of several analyst reports. KeyCorp lowered their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Evercore ISI lowered their target price on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Susquehanna cut their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Morgan Stanley raised their price target on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, UBS Group decreased their target price on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $209.64.

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.