Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 12.5% in the 4th quarter, HoldingsChannel reports. The firm owned 20,222 shares of the oil and natural gas company’s stock after purchasing an additional 2,247 shares during the period. Nordea Investment Management AB’s holdings in Diamondback Energy were worth $3,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC grew its holdings in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Diamondback Energy in the 3rd quarter worth approximately $42,000. CVA Family Office LLC raised its holdings in Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after acquiring an additional 65 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after purchasing an additional 136 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Diamondback Energy during the third quarter worth $52,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FANG has been the subject of several analyst reports. Scotiabank dropped their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Jefferies Financial Group started coverage on shares of Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 price objective on the stock. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $209.83.

Diamondback Energy Trading Up 2.2 %

NASDAQ FANG opened at $174.77 on Friday. The stock has a market cap of $51.03 billion, a P/E ratio of 10.00, a PEG ratio of 1.19 and a beta of 1.88. The company’s fifty day simple moving average is $170.76 and its 200-day simple moving average is $183.96. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.49 EPS. Equities research analysts predict that Diamondback Energy, Inc. will post 16.51 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by insiders.

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.