29,991 Shares in Diamondback Energy, Inc. $FANG Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 29,991 shares of the oil and natural gas company’s stock, valued at approximately $4,292,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Diamondback Energy by 106.3% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 102 shares during the period. Creekmur Asset Management LLC purchased a new stake in shares of Diamondback Energy in the second quarter worth approximately $28,000. Salomon & Ludwin LLC bought a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $31,000. Twin Peaks Wealth Advisors LLC purchased a new position in Diamondback Energy during the 2nd quarter valued at $29,000. Finally, Estabrook Capital Management bought a new position in Diamondback Energy in the 2nd quarter valued at $41,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FANG has been the topic of a number of recent analyst reports. Piper Sandler reduced their target price on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday. Jefferies Financial Group restated a “hold” rating and issued a $173.00 price target on shares of Diamondback Energy in a report on Monday. Royal Bank Of Canada reiterated an “outperform” rating and set a $173.00 price objective on shares of Diamondback Energy in a report on Friday, October 10th. Sanford C. Bernstein lowered their price objective on shares of Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Finally, Citigroup reduced their target price on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $186.24.

Diamondback Energy Stock Performance

FANG stock opened at $151.85 on Friday. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $180.29. The business has a 50-day moving average price of $150.80 and a 200 day moving average price of $145.57. The company has a market capitalization of $43.49 billion, a P/E ratio of 10.55 and a beta of 0.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the firm posted $3.19 EPS. The company’s revenue for the quarter was up 48.4% on a year-over-year basis. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, November 13th. Diamondback Energy’s dividend payout ratio (DPR) is presently 27.80%.

Insider Buying and Selling

In related news, Director Charles Alvin Meloy sold 377,911 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the transaction, the director owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. The trade was a 26.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.