X Square Capital LLC Sells 102 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

X Square Capital LLC lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,133 shares of the oil and natural gas company’s stock after selling 102 shares during the period. X Square Capital LLC’s holdings in Diamondback Energy were worth $540,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FANG. First Community Trust NA purchased a new position in shares of Diamondback Energy in the second quarter worth about $26,000. Carolinas Wealth Consulting LLC increased its holdings in shares of Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the period. HHM Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the second quarter worth about $40,000. Founders Capital Management increased its holdings in shares of Diamondback Energy by 99.2% in 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 period. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after buying an additional 136 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on FANG. Citigroup began coverage on Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. KeyCorp reduced their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wolfe Research initiated coverage on Diamondback Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $205.00 to $215.00 in a report on Friday, October 4th. Finally, Piper Sandler boosted their price target on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Diamondback Energy Stock Performance

FANG stock opened at $181.12 on Thursday. The stock has a market capitalization of $32.30 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The stock’s 50 day simple moving average is $185.42 and its 200 day simple moving average is $194.34.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.68 EPS. As a group, research analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $2.34 dividend. This represents a yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is presently 20.29%.

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.