Banco Santander S.A. Has $11.82 Million Holdings in Diamondback Energy, Inc. $FANG

Banco Santander S.A. increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 17.8% in the second quarter, Holdings Channel.com reports. The firm owned 86,013 shares of the oil and natural gas company’s stock after purchasing an additional 13,006 shares during the quarter. Banco Santander S.A.’s holdings in Diamondback Energy were worth $11,818,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BankPlus Trust Department acquired a new position in Diamondback Energy in the 1st quarter worth $27,000. SouthState Corp boosted its stake in Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 167 shares during the period. WASHINGTON TRUST Co boosted its stake in Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 109 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in shares of Diamondback Energy during the 1st quarter worth about $33,000. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of Diamondback Energy by 60.9% during the 1st quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company’s stock worth $35,000 after buying an additional 84 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FANG shares. Mizuho reduced their price objective on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Morgan Stanley reduced their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Susquehanna reduced their price objective on shares of Diamondback Energy to $188.00 and set a “positive” rating for the company in a research note on Monday, October 20th. KeyCorp reduced their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. Finally, Melius started coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Buy” and a consensus price target of $189.91.

Diamondback Energy Stock Down 1.0%

Shares of FANG stock opened at $144.40 on Tuesday. 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 firm’s 50-day moving average is $142.71 and its 200-day moving average is $141.10. The stock has a market cap of $41.80 billion, a price-to-earnings ratio of 10.26 and a beta of 1.04. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $186.07.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm’s revenue for the quarter was up 48.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.52 earnings per share. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is presently 28.43%.

Insider Activity

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares of the company’s stock, valued at $14,586,306. This represents a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

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.