Swedbank AB Has $26.71 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Swedbank AB raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 69.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 154,922 shares of the oil and natural gas company’s stock after buying an additional 63,360 shares during the period. Swedbank AB owned 0.05% of Diamondback Energy worth $26,709,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FANG. First Community Trust NA bought a new stake in Diamondback Energy during the second quarter worth about $26,000. Carolinas Wealth Consulting LLC raised its stake in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at approximately $40,000. Values First Advisors Inc. bought a new position in shares of Diamondback Energy in the third quarter valued at $42,000. Finally, Founders Capital Management increased its holdings in Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after buying an additional 125 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FANG shares. Evercore ISI cut their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Morgan Stanley boosted their price target on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Scotiabank cut their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Jefferies Financial Group began coverage on Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $212.00.

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 dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $179.55 on Tuesday. The firm has a market cap of $52.43 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.36 and a beta of 1.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock’s fifty day moving average price is $182.24 and its two-hundred day moving average price is $190.46. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued 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 company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business posted $5.49 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, research analysts expect that Diamondback Energy, Inc. will post 16.35 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is presently 20.61%.

Diamondback Energy 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.