Healthcare of Ontario Pension Plan Trust Fund Raises Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 17.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,689 shares of the oil and natural gas company’s stock after purchasing an additional 12,111 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Diamondback Energy were worth $14,083,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of 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. Pacer Advisors Inc. raised its stake in shares of Diamondback Energy by 9.3% in the 3rd 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 acquiring an additional 230,689 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Diamondback Energy by 10.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock valued at $538,547,000 after acquiring an additional 247,065 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Diamondback Energy by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,282,557 shares of the oil and natural gas company’s stock valued at $456,930,000 after acquiring an additional 87,288 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after acquiring an additional 439,579 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 0.1 %

Diamondback Energy stock opened at $176.19 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. 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 company has a market capitalization of $51.45 billion, a P/E ratio of 10.09, a PEG ratio of 1.32 and a beta of 1.89. The stock has a 50-day simple moving average of $182.02 and a 200-day simple moving average of $190.08.

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 the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the firm posted $5.49 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts expect that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company 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. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Activity

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was 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 approximately $181,732,485.09. The trade was a 92.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on FANG. KeyCorp reduced their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Truist Financial lifted their price objective on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Citigroup started coverage on shares of Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective for the company. Susquehanna dropped their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a report on Friday, October 18th. Finally, Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. One 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 issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $212.00.

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.