Swedbank AB Has $26.71 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Swedbank AB lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 69.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 154,922 shares of the oil and natural gas company’s stock after buying an additional 63,360 shares during the quarter. Swedbank AB’s holdings in Diamondback Energy were worth $26,709,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FANG. Bank of New York Mellon Corp increased its position 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 valued at $603,038,000 after acquiring an additional 415,902 shares during the period. Boston Partners grew its stake in shares of Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after purchasing an additional 1,916,900 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Diamondback Energy by 9.3% in the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock valued at $466,259,000 after purchasing an additional 230,689 shares during the period. Massachusetts Financial Services Co. MA raised its position in Diamondback Energy by 10.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after purchasing an additional 247,065 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Diamondback Energy by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,282,557 shares of the oil and natural gas company’s stock worth $456,930,000 after buying an additional 87,288 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of several recent research reports. KeyCorp decreased their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Raymond James upped their price objective on shares of Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 19th. Susquehanna lowered their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Finally, Truist Financial upped their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $212.00.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $179.55 on Tuesday. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The company has a market cap of $52.43 billion, a P/E ratio of 10.28, a PEG ratio of 1.36 and a beta of 1.89. The company has a fifty day simple moving average of $182.24 and a 200 day simple moving average of $190.46. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its 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 business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.49 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 16.35 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.01%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction that occurred 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 directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

About Diamondback Energy

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.