Loomis Sayles & Co. L P Has $36.16 Million Stock Position in Diamondback Energy, Inc. $FANG

Loomis Sayles & Co. L P lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 13.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,160 shares of the oil and natural gas company’s stock after selling 41,052 shares during the quarter. Loomis Sayles & Co. L P owned about 0.09% of Diamondback Energy worth $36,158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Diamondback Energy by 1.7% in the second quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock worth $3,204,894,000 after acquiring an additional 388,512 shares in the last quarter. Boston Partners increased its holdings in shares of Diamondback Energy by 2.8% during the second quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock valued at $766,914,000 after acquiring an additional 151,150 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 2.7% during the second quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock worth $746,526,000 after purchasing an additional 142,649 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Diamondback Energy by 9.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after purchasing an additional 384,971 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings 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 worth $311,792,000 after purchasing an additional 418,431 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Up 2.1%

FANG opened at $152.42 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $180.91. The company’s 50-day moving average is $144.53 and its 200 day moving average is $142.93. The firm has a market capitalization of $43.65 billion, a P/E ratio of 10.59 and a beta of 0.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.14. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.Diamondback Energy’s quarterly revenue was up 48.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.19 earnings per share. Research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 annualized dividend and a yield of 2.6%. Diamondback Energy’s payout ratio is currently 27.80%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FANG shares. UBS Group lifted their price target on shares of Diamondback Energy from $171.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $183.00 price objective on shares of Diamondback Energy in a research note on Thursday, November 20th. Roth Capital set a $162.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, November 4th. Piper Sandler decreased their target price on shares of Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Finally, Wall Street Zen raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $188.77.

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.