Diamondback Energy, Inc. $FANG Stock Holdings Boosted by Inspire Investing LLC

Inspire Investing LLC raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 29.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,947 shares of the oil and natural gas company’s stock after buying an additional 15,323 shares during the quarter. Diamondback Energy comprises 0.5% of Inspire Investing LLC’s portfolio, making the stock its 29th biggest position. Inspire Investing LLC’s holdings in Diamondback Energy were worth $12,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Yousif Capital Management LLC boosted its stake in Diamondback Energy by 4.8% during the 3rd quarter. Yousif Capital Management LLC now owns 19,547 shares of the oil and natural gas company’s stock worth $3,593,000 after acquiring an additional 903 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Diamondback Energy during the third quarter worth $118,000. Woodward Diversified Capital LLC bought a new position in shares of Diamondback Energy during the third quarter worth $211,000. Sage Private Wealth Group LLC boosted its position in shares of Diamondback Energy by 20.7% during the third quarter. Sage Private Wealth Group LLC now owns 1,771 shares of the oil and natural gas company’s stock worth $326,000 after purchasing an additional 304 shares in the last quarter. Finally, Eagle Rock Investment Company LLC grew its holdings in shares of Diamondback Energy by 12.9% in the 3rd quarter. Eagle Rock Investment Company LLC now owns 30,633 shares of the oil and natural gas company’s stock valued at $5,631,000 after buying an additional 3,505 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Travis D. Stice sold 75,000 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $204.31, for a total transaction of $15,323,250.00. Following the completion of the transaction, the director directly owned 49,727 shares of the company’s stock, valued at $10,159,723.37. This represents a 60.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Meloy sold 33,333 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $183.74, for a total value of $6,124,605.42. Following the transaction, the director owned 759,864 shares of the company’s stock, valued at approximately $139,617,411.36. The trade was a 4.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 141,666 shares of company stock worth $28,061,456 in the last three months. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Up 4.4%

Shares of FANG stock opened at $205.75 on Friday. Diamondback Energy, Inc. has a 12-month low of $137.03 and a 12-month high of $216.90. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $197.35 and a 200-day moving average of $194.46. The company has a market capitalization of $57.61 billion, a price-to-earnings ratio of 40.11 and a beta of 0.55.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm’s revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.38 EPS. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 21.04 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a $1.10 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 annualized dividend and a dividend yield of 2.1%. Diamondback Energy’s dividend payout ratio (DPR) is currently 85.77%.

Analyst Upgrades and Downgrades

FANG has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Diamondback Energy from $216.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Scotiabank initiated coverage on Diamondback Energy in a report on Wednesday, October 14th. They set a “sector outperform” rating and a $250.00 target price on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $240.00 target price (up from $221.00) on shares of Diamondback Energy in a research note on Wednesday, September 2nd. Roth Capital increased their price target on Diamondback Energy from $205.00 to $212.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, UBS Group increased their price target on Diamondback Energy from $243.00 to $253.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.71.

Diamondback Energy Profile

Diamondback Energy, Inc is an independent oil and natural gas company engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. The company’s operations are concentrated in the Permian Basin of West Texas and southeastern New Mexico, particularly the Midland and Delaware Basins.

Diamondback produces crude oil, natural gas and natural gas liquids from horizontal wells and related infrastructure. Its activities include drilling and completing wells, operating gathering and processing assets, and managing midstream services that support production.