Pendal Group Ltd Buys New Holdings in Diamondback Energy Inc (NASDAQ:FANG)

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Pendal Group Ltd bought a new stake in shares of Diamondback Energy Inc (NASDAQ:FANG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,945 shares of the oil and natural gas company’s stock, valued at approximately $212,000.

A number of other hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in Diamondback Energy by 60.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,374,465 shares of the oil and natural gas company’s stock valued at $127,413,000 after buying an additional 517,292 shares during the period. Geode Capital Management LLC increased its holdings in Diamondback Energy by 128.1% in the 4th quarter. Geode Capital Management LLC now owns 2,040,175 shares of the oil and natural gas company’s stock valued at $188,797,000 after buying an additional 1,145,573 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Diamondback Energy by 1.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the oil and natural gas company’s stock valued at $833,000 after purchasing an additional 100 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Diamondback Energy in the 1st quarter valued at $313,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Diamondback Energy by 13.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 39,980 shares of the oil and natural gas company’s stock valued at $4,059,000 after purchasing an additional 4,868 shares in the last quarter. Institutional investors own 99.48% of the company’s stock.

Shares of NASDAQ FANG opened at $97.26 on Friday. The firm’s 50-day simple moving average is $102.56 and its 200 day simple moving average is $103.24. The company has a market cap of $15.86 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 0.64 and a beta of 0.82. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.29. Diamondback Energy Inc has a 12-month low of $85.19 and a 12-month high of $140.78.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.04). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a return on equity of 6.50% and a net margin of 26.92%. The firm’s quarterly revenue was up 93.7% on a year-over-year basis. During the same quarter last year, the company earned $1.59 EPS. On average, equities analysts expect that Diamondback Energy Inc will post 7.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 16th will be given a dividend of $0.188 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.75 annualized dividend and a yield of 0.77%. Diamondback Energy’s dividend payout ratio (DPR) is 12.78%.

In other Diamondback Energy news, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total transaction of $560,900.00. Following the transaction, the vice president now directly owns 117,107 shares in the company, valued at approximately $13,137,063.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $107.47, for a total transaction of $161,205.00. Following the transaction, the chief financial officer now owns 27,465 shares in the company, valued at $2,951,663.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,500 shares of company stock worth $1,258,505. 0.47% of the stock is owned by corporate insiders.

Several equities research analysts have recently commented on the stock. Credit Suisse Group assumed coverage on shares of Diamondback Energy in a research note on Monday, June 17th. They issued an “outperform” rating and a $135.00 target price on the stock. ValuEngine downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. TD Securities boosted their target price on shares of Diamondback Energy from $155.00 to $160.00 and gave the company an “action list buy” rating in a research note on Thursday, June 20th. JPMorgan Chase & Co. reduced their target price on shares of Diamondback Energy from $155.00 to $149.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, BidaskClub upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have issued a buy rating and three have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $155.57.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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