King Luther Capital Management Corp Buys 12,731 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

King Luther Capital Management Corp increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 161,412 shares of the oil and natural gas company’s stock after acquiring an additional 12,731 shares during the quarter. King Luther Capital Management Corp owned about 0.05% of Diamondback Energy worth $27,827,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Diamondback Energy by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after purchasing an additional 2,381,488 shares in the last quarter. Boston Partners grew its holdings in Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after buying an additional 1,916,900 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after acquiring an additional 439,579 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Diamondback Energy by 16.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after acquiring an additional 415,902 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Diamondback Energy by 280.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock worth $109,144,000 after acquiring an additional 402,026 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They issued a “hold” rating and a $185.00 price target on the stock. Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Truist Financial lifted their price target on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Evercore ISI decreased their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Finally, Scotiabank dropped their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $212.00.

Diamondback Energy Trading Up 0.8 %

NASDAQ FANG opened at $182.92 on Friday. The company has a market capitalization of $53.41 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.89. The company’s 50-day simple moving average is $181.89 and its two-hundred day simple moving average is $190.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.49 earnings per share. Equities analysts forecast that Diamondback Energy, Inc. will post 16.37 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) 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.