ICICI Prudential Asset Management Co Ltd Has $401,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

ICICI Prudential Asset Management Co Ltd raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 18.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,328 shares of the oil and natural gas company’s stock after acquiring an additional 369 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Diamondback Energy were worth $401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. increased its position in shares of Diamondback Energy by 213.8% in the first quarter. QRG Capital Management Inc. now owns 6,542 shares of the oil and natural gas company’s stock valued at $1,297,000 after acquiring an additional 4,457 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in Diamondback Energy by 2.3% in the first quarter. Avantax Advisory Services Inc. now owns 5,118 shares of the oil and natural gas company’s stock valued at $1,014,000 after purchasing an additional 114 shares in the last quarter. Bleakley Financial Group LLC increased its position in shares of Diamondback Energy by 28.2% during the 1st quarter. Bleakley Financial Group LLC now owns 3,994 shares of the oil and natural gas company’s stock worth $791,000 after purchasing an additional 879 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in shares of Diamondback Energy by 20.8% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 424 shares of the oil and natural gas company’s stock worth $84,000 after purchasing an additional 73 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Diamondback Energy by 2.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 206,136 shares of the oil and natural gas company’s stock valued at $40,850,000 after buying an additional 5,102 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $182.24 on Thursday. The company’s 50 day simple moving average is $181.30 and its 200 day simple moving average is $191.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The stock has a market capitalization of $53.21 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 1.27 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results 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). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the firm posted $5.49 EPS. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, research analysts predict that Diamondback Energy, Inc. will post 17 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. Diamondback Energy’s payout ratio is presently 20.61%.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FANG shares. Sanford C. Bernstein lowered their target price on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Evercore ISI lowered their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 target price for the company. UBS Group lowered their price target on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Truist Financial raised their price objective on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus 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.