Olympiad Research LP Buys 792 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Olympiad Research LP raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 32.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,201 shares of the oil and natural gas company’s stock after purchasing an additional 792 shares during the period. Olympiad Research LP’s holdings in Diamondback Energy were worth $552,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. First Community Trust NA bought a new stake in Diamondback Energy in the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC raised its holdings in shares of Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC bought a new stake in shares of Diamondback Energy in the 2nd quarter worth approximately $40,000. Values First Advisors Inc. bought a new stake in shares of Diamondback Energy in the 3rd quarter worth approximately $42,000. Finally, Founders Capital Management raised its holdings in shares of 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 period. 90.01% of the stock is owned by institutional investors.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $183.62 on Thursday. The firm’s fifty day moving average is $182.34 and its two-hundred day moving average is $192.55. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-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 cap of $54.12 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.26 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its 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). Diamondback Energy had a return on equity of 17.64% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm earned $5.49 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, analysts anticipate that Diamondback Energy, Inc. will post 17.1 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a $0.90 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.96%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Analysts Set New Price Targets

A number of research firms recently commented on FANG. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Wednesday. Wells Fargo & Company reiterated a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. StockNews.com lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Citigroup began coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $209.64.

About Diamondback Energy

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.