Aberdeen Group plc Has $13.54 Million Holdings in Diamondback Energy, Inc. $FANG

Aberdeen Group plc increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,547 shares of the oil and natural gas company’s stock after purchasing an additional 4,017 shares during the period. Aberdeen Group plc’s holdings in Diamondback Energy were worth $13,540,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FANG. BankPlus Trust Department acquired a new position in Diamondback Energy in the first quarter valued at about $27,000. Pinnacle Bancorp Inc. grew its stake in Diamondback Energy by 95.7% in the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock valued at $29,000 after acquiring an additional 88 shares during the period. SouthState Corp grew its stake in Diamondback Energy by 596.4% in the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 167 shares during the period. WASHINGTON TRUST Co grew its stake in Diamondback Energy by 119.8% in the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 109 shares during the period. Finally, Grove Bank & Trust grew its stake in Diamondback Energy by 65.0% in the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 80 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the sale, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday. William Blair initiated coverage on Diamondback Energy in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $173.00 target price on shares of Diamondback Energy in a research note on Friday, October 10th. Wall Street Zen lowered Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company boosted their price target on Diamondback Energy from $210.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. 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, Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $192.23.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $141.94 on Thursday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $186.74. The firm has a market cap of $41.09 billion, a price-to-earnings ratio of 10.09 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The stock’s 50-day moving average is $142.27 and its 200-day moving average is $140.80.

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

Diamondback Energy Announces Dividend

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

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.