Point72 Europe London LLP Increases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Point72 Europe London LLP increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,460 shares of the oil and natural gas company’s stock after acquiring an additional 5,986 shares during the period. Point72 Europe London LLP’s holdings in Diamondback Energy were worth $11,216,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Wintrust Investments LLC acquired a new stake in Diamondback Energy during the 4th quarter valued at $28,000. R Squared Ltd acquired a new position in shares of Diamondback Energy during the fourth quarter worth $29,000. UMB Bank n.a. boosted its holdings in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc boosted its stake in Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares during the last quarter. Finally, Transce3nd LLC acquired a new stake in Diamondback Energy during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FANG. Bank of America raised shares of Diamondback Energy from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $202.00 to $170.00 in a report on Tuesday, April 29th. Truist Financial lifted their target price on Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. JPMorgan Chase & Co. reduced their price objective on Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a report on Wednesday, March 5th. Finally, Wells Fargo & Company lowered their target price on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $194.09.

Insider Buying and Selling

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president now directly owns 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Stock Down 0.9%

Diamondback Energy stock opened at $144.82 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market cap of $42.31 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The firm’s 50-day simple moving average is $141.29 and its 200 day simple moving average is $158.61. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter in the prior year, the firm posted $4.50 EPS. The firm’s quarterly revenue was up 81.8% on a year-over-year basis. Research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Thursday, May 15th. Diamondback Energy’s payout ratio is currently 24.46%.

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.