Bank of New York Mellon Corp Has $637.84 Million Holdings in Diamondback Energy, Inc. $FANG

Bank of New York Mellon Corp lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 9.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,642,218 shares of the oil and natural gas company’s stock after purchasing an additional 384,971 shares during the period. Bank of New York Mellon Corp’s holdings in Diamondback Energy were worth $637,841,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FANG. Nuveen LLC acquired a new stake in shares of Diamondback Energy in the 1st quarter valued at $230,039,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Diamondback Energy in the 1st quarter valued at $77,622,000. Wellington Management Group LLP lifted its stake in shares of Diamondback Energy by 27.3% in the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock valued at $311,792,000 after purchasing an additional 418,431 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Diamondback Energy by 50.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,135,759 shares of the oil and natural gas company’s stock valued at $181,585,000 after purchasing an additional 381,542 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Diamondback Energy by 4.8% in the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock valued at $861,961,000 after purchasing an additional 249,098 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. The trade was a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $141.27 on Tuesday. The firm’s 50-day moving average is $142.87 and its 200-day moving average is $141.65. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $186.07. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The company has a market cap of $40.90 billion, a price-to-earnings ratio of 10.04 and a beta of 0.99.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.31. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. During the same quarter in the prior year, the business posted $3.19 EPS. The business’s revenue was up 48.4% on a year-over-year basis. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Melius Research assumed coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price on the stock. Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a report on Thursday, October 9th. KeyCorp dropped their target price on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a report on Wednesday, September 3rd. Mizuho dropped their target price on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Diamondback Energy in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Buy” and a consensus price target of $189.67.

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.