Diamondback Energy, Inc. $FANG Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 184,241 shares of the oil and natural gas company’s stock after selling 167 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Diamondback Energy worth $29,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of Diamondback Energy by 4.2% in the fourth quarter. AQR Capital Management LLC now owns 44,751 shares of the oil and natural gas company’s stock valued at $7,332,000 after purchasing an additional 1,802 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of Diamondback Energy by 573.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 13,459 shares of the oil and natural gas company’s stock worth $2,205,000 after acquiring an additional 11,459 shares during the last quarter. AXA S.A. raised its holdings in shares of Diamondback Energy by 32.9% during the 4th quarter. AXA S.A. now owns 46,929 shares of the oil and natural gas company’s stock worth $7,688,000 after acquiring an additional 11,621 shares during the period. Ancora Advisors LLC boosted its position in shares of Diamondback Energy by 182.9% during the 4th quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Diamondback Energy by 10.7% in the fourth quarter. Ameriprise Financial Inc. now owns 969,515 shares of the oil and natural gas company’s stock valued at $158,862,000 after purchasing an additional 93,691 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

FANG opened at $148.76 on Tuesday. The stock’s 50-day moving average price is $142.62 and its 200 day moving average price is $143.07. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $200.47. The firm has a market cap of $43.06 billion, a price-to-earnings ratio of 10.57 and a beta of 1.15. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The firm’s revenue for the quarter was up 48.1% on a year-over-year basis. During the same quarter last year, the company earned $4.52 earnings per share. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 28.43%.

Insider Activity at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the sale, the chairman owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FANG has been the topic of a number of analyst reports. Piper Sandler reduced their target price on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Wells Fargo & Company upped their price objective on Diamondback Energy from $210.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. UBS Group increased their price objective on Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $193.33.

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.