111,152 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by Paloma Partners Management Co

Paloma Partners Management Co bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 111,152 shares of the oil and natural gas company’s stock, valued at approximately $19,163,000. Diamondback Energy comprises 0.5% of Paloma Partners Management Co’s holdings, making the stock its 24th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Community Trust NA purchased a new position in Diamondback Energy during the 2nd quarter worth $26,000. Carolinas Wealth Consulting LLC grew its stake in 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 valued at $27,000 after purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in Diamondback Energy during the 2nd quarter valued at about $40,000. Values First Advisors Inc. purchased a new stake in Diamondback Energy during the 3rd quarter valued at about $42,000. Finally, Founders Capital Management grew its stake in Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 125 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $177.59 on Monday. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The stock has a 50-day moving average of $181.95 and a 200 day moving average of $189.82. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $51.85 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.31 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the firm posted $5.49 earnings per share. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 16.26 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.03%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. KeyCorp dropped their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Jefferies Financial Group assumed coverage on Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price target on the stock. Truist Financial boosted their price target on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Raymond James boosted their price objective on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 19th. Finally, Benchmark reissued a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the company’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 value 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 $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

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.