Freedom Day Solutions LLC Has $1.63 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Freedom Day Solutions LLC lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,478 shares of the oil and natural gas company’s stock after purchasing an additional 68 shares during the period. Freedom Day Solutions LLC’s holdings in Diamondback Energy were worth $1,634,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FANG. Price T Rowe Associates Inc. MD lifted its position in shares of Diamondback Energy by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after buying an additional 2,381,488 shares during the last quarter. Boston Partners lifted its holdings in Diamondback Energy by 235.6% in the 1st 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. Homestead Advisers Corp acquired a new stake in Diamondback Energy in the 1st quarter worth approximately $87,940,000. Bank of New York Mellon Corp boosted its position in Diamondback Energy by 16.0% during the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after purchasing an additional 415,902 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Diamondback Energy by 280.8% during the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock valued at $109,144,000 after purchasing an additional 402,026 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Down 0.1 %

Shares of Diamondback Energy stock opened at $180.91 on Friday. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The stock has a market capitalization of $32.26 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The company has a 50-day simple moving average of $185.42 and a 200 day simple moving average of $194.34. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. Diamondback Energy’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.68 earnings per share. Research analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $2.34 dividend. This represents a dividend yield of 1.9%. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s payout ratio is currently 20.29%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. StockNews.com cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Bank of America lifted their price objective on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Truist Financial boosted 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. Finally, Scotiabank lowered their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is owned by corporate 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.