1,998 Shares in Diamondback Energy, Inc. $FANG Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,998 shares of the oil and natural gas company’s stock, valued at approximately $275,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FANG. Nuveen LLC acquired a new position in shares of Diamondback Energy in the 1st quarter valued at about $230,039,000. Adage Capital Partners GP L.L.C. purchased a new position in Diamondback Energy in the first quarter valued at approximately $77,622,000. Wellington Management Group LLP lifted its position in Diamondback Energy by 27.3% during the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock valued at $311,792,000 after buying an additional 418,431 shares in the last quarter. Victory Capital Management Inc. grew its stake in Diamondback Energy by 50.6% during the first quarter. Victory Capital Management Inc. now owns 1,135,759 shares of the oil and natural gas company’s stock worth $181,585,000 after buying an additional 381,542 shares during the period. Finally, Boston Partners grew its stake in Diamondback Energy by 4.8% during the first quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock worth $861,961,000 after buying an additional 249,098 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 0.9%

Shares of NASDAQ FANG opened at $145.86 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $186.07. The stock’s 50-day simple moving average is $142.61 and its 200-day simple moving average is $141.03. The firm has a market cap of $42.22 billion, a price-to-earnings ratio of 10.37 and a beta of 1.04.

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

Diamondback Energy Announces Dividend

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

Insider Activity

In related news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the sale, the chairman directly owned 102,145 shares of the company’s stock, valued at $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 SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research reports. Melius assumed coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 target price on the stock. William Blair initiated coverage on Diamondback Energy in a research report on Monday, August 25th. They issued an “outperform” rating on the stock. Morgan Stanley decreased their target price on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. KeyCorp lowered their target price on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. Finally, Piper Sandler reduced their price target 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. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $189.91.

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.