World Investment Advisors Buys 9,477 Shares of Diamondback Energy, Inc. $FANG

World Investment Advisors lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 33.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,545 shares of the oil and natural gas company’s stock after acquiring an additional 9,477 shares during the period. World Investment Advisors’ holdings in Diamondback Energy were worth $5,373,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FANG. Vanguard Group Inc. increased its stake 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 valued at $3,204,894,000 after purchasing an additional 388,512 shares in the last quarter. Boston Partners grew its holdings in shares of Diamondback Energy by 2.8% in the 2nd quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock valued at $766,914,000 after buying an additional 151,150 shares during the period. Geode Capital Management LLC increased its position in shares of Diamondback Energy by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock valued at $746,526,000 after buying an additional 142,649 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 valued at $637,841,000 after buying an additional 384,971 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in Diamondback Energy by 9.2% during the 2nd quarter. Raymond James Financial Inc. now owns 1,952,276 shares of the oil and natural gas company’s stock worth $268,243,000 after buying an additional 164,293 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity

In related news, Director Charles Alvin Meloy sold 377,911 shares of Diamondback Energy stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $138.61, for a total value of $52,382,243.71. Following the sale, the director owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. The trade was a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Diamondback Energy Stock Down 0.5%

Shares of Diamondback Energy stock opened at $147.47 on Friday. The firm has a market cap of $42.23 billion, a PE ratio of 10.25 and a beta of 0.63. The business’s 50 day simple moving average is $148.24 and its 200 day simple moving average is $144.92. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $180.91.

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

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were issued a $1.00 dividend. The ex-dividend date was Thursday, November 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. Diamondback Energy’s dividend payout ratio (DPR) is presently 27.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FANG shares. KeyCorp decreased their target price on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. UBS Group lifted their price objective on Diamondback Energy from $174.00 to $194.00 and gave the company a “buy” rating in a report on Friday, December 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $173.00 price objective on shares of Diamondback Energy in a research report on Friday, October 10th. Roth Capital set a $162.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Piper Sandler cut their price target on shares of Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Diamondback Energy currently has an average rating of “Buy” and an average price target of $188.76.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.