Stanley Laman Group Ltd. Raises Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Stanley Laman Group Ltd. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,512 shares of the oil and natural gas company’s stock after purchasing an additional 240 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Diamondback Energy were worth $3,881,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares in the last quarter. Boston Partners boosted its holdings in Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after acquiring an additional 1,916,900 shares in the last quarter. Homestead Advisers Corp purchased a new stake in shares of Diamondback Energy in the first quarter worth $87,940,000. Bank of New York Mellon Corp increased its holdings in shares of Diamondback Energy by 16.0% during the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after acquiring an additional 415,902 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Diamondback Energy by 280.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock worth $109,144,000 after purchasing an additional 402,026 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ FANG opened at $184.03 on Wednesday. The business’s fifty day moving average is $185.73 and its 200 day moving average is $194.44. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The company has a market capitalization of $32.82 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business’s quarterly revenue was up 29.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.68 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $2.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio is 20.29%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction 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 completion of the sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FANG shares. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. StockNews.com cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Benchmark boosted their price objective on shares of Diamondback Energy from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Jefferies Financial Group began coverage on Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of Diamondback Energy in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

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.