Diamondback Energy, Inc. $FANG Shares Bought by Profund Advisors LLC

Profund Advisors LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.6% during the second quarter, Holdings Channel reports. The firm owned 29,216 shares of the oil and natural gas company’s stock after acquiring an additional 2,568 shares during the quarter. Profund Advisors LLC’s holdings in Diamondback Energy were worth $4,014,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. BankPlus Trust Department acquired a new position in Diamondback Energy during the first quarter worth approximately $27,000. Creekmur Asset Management LLC acquired a new stake in Diamondback Energy during the 2nd quarter worth $28,000. SouthState Corp boosted its stake in shares of Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 167 shares during the period. Eastern Bank grew its holdings in shares of Diamondback Energy by 119.8% during the first quarter. Eastern Bank now owns 233 shares of the oil and natural gas company’s stock worth $37,000 after buying an additional 127 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in Diamondback Energy in the 1st quarter valued at about $43,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 2.0%

NASDAQ:FANG opened at $143.65 on Monday. The stock has a market cap of $41.16 billion, a price-to-earnings ratio of 9.98 and a beta of 0.99. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $186.07. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The business’s 50-day simple moving average is $142.31 and its 200 day simple moving average is $141.78.

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

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 13th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, November 13th. Diamondback Energy’s dividend payout ratio (DPR) is 27.80%.

Analysts Set New Price Targets

A number of analysts have weighed in on FANG shares. KeyCorp decreased their price objective on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd. Barclays cut their price objective on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Melius Research 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 target on the stock. Piper Sandler dropped their target price on Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. Finally, UBS Group upped their price objective on Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $188.41.

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.