Holocene Advisors LP Purchases 457,896 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Holocene Advisors LP grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 95.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 938,474 shares of the oil and natural gas company’s stock after purchasing an additional 457,896 shares during the period. Holocene Advisors LP owned approximately 0.32% of Diamondback Energy worth $161,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FANG. First Community Trust NA acquired a new stake in shares of Diamondback Energy in the 2nd quarter worth about $26,000. Carolinas Wealth Consulting LLC lifted its position in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $40,000. Values First Advisors Inc. purchased a new position in shares of Diamondback Energy in the 3rd quarter worth approximately $42,000. Finally, Founders Capital Management grew its holdings in shares of Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ FANG opened at $177.59 on Monday. The stock has a market capitalization of $51.85 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.31 and a beta of 1.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business’s fifty day moving average price is $181.95 and its 200-day moving average price is $189.82. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the company earned $5.49 earnings per share. On average, equities analysts predict that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.03%. Diamondback Energy’s payout ratio is currently 20.61%.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Truist Financial increased their price objective on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Morgan Stanley lifted their price target on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Benchmark restated a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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.