National Pension Service Increases Position in Diamondback Energy Inc (NASDAQ:FANG)

National Pension Service lifted its holdings in Diamondback Energy Inc (NASDAQ:FANG) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,021 shares of the oil and natural gas company’s stock after purchasing an additional 7,676 shares during the period. National Pension Service owned about 0.09% of Diamondback Energy worth $13,219,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hartford Investment Management Co. grew its stake in Diamondback Energy by 0.8% in the 2nd quarter. Hartford Investment Management Co. now owns 16,662 shares of the oil and natural gas company’s stock valued at $1,816,000 after acquiring an additional 138 shares during the period. Corient Capital Partners LLC raised its position in Diamondback Energy by 6.9% during the third quarter. Corient Capital Partners LLC now owns 2,274 shares of the oil and natural gas company’s stock worth $204,000 after acquiring an additional 146 shares during the period. Commonwealth Bank of Australia raised its position in Diamondback Energy by 81.7% during the second quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 152 shares during the period. Profund Advisors LLC lifted its holdings in Diamondback Energy by 2.6% during the second quarter. Profund Advisors LLC now owns 6,288 shares of the oil and natural gas company’s stock valued at $685,000 after purchasing an additional 157 shares in the last quarter. Finally, Timber Creek Capital Management LLC lifted its holdings in Diamondback Energy by 0.8% during the third quarter. Timber Creek Capital Management LLC now owns 19,720 shares of the oil and natural gas company’s stock valued at $1,773,000 after purchasing an additional 165 shares in the last quarter. 98.87% of the stock is owned by institutional investors.

FANG opened at $77.88 on Tuesday. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 0.96 and a beta of 0.79. The company’s 50 day simple moving average is $80.98 and its two-hundred day simple moving average is $94.92. Diamondback Energy Inc has a 1-year low of $73.18 and a 1-year high of $115.97. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.72 and a quick ratio of 0.68.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.24). Diamondback Energy had a net margin of 29.59% and a return on equity of 6.01%. The company had revenue of $975.00 million during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company earned $1.67 earnings per share. Diamondback Energy’s revenue for the quarter was up 81.6% on a year-over-year basis. On average, equities analysts anticipate that Diamondback Energy Inc will post 6.43 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were given a dividend of $0.1875 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.75 dividend on an annualized basis and a yield of 0.96%. Diamondback Energy’s payout ratio is 12.78%.

FANG has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Diamondback Energy from $152.00 to $139.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. They noted that the move was a valuation call. Johnson Rice lowered shares of Diamondback Energy from a “buy” rating to an “accumulate” rating in a research note on Tuesday, November 19th. Oppenheimer cut Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $138.00 price objective on the stock. in a report on Thursday, November 7th. Citigroup lowered their price objective on Diamondback Energy from $135.00 to $118.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Finally, TheStreet lowered Diamondback Energy from a “b-” rating to a “c+” rating in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $142.27.

In other Diamondback Energy news, EVP Randall J. Holder sold 3,000 shares of Diamondback Energy stock in a transaction on Monday, September 16th. The stock was sold at an average price of $103.21, for a total value of $309,630.00. Following the sale, the executive vice president now owns 8,448 shares in the company, valued at $871,918.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $100.25, for a total value of $501,250.00. Following the completion of the transaction, the vice president now directly owns 105,107 shares in the company, valued at approximately $10,536,976.75. The disclosure for this sale can be found here. Insiders have sold 11,000 shares of company stock worth $1,120,130 in the last three months. 0.47% of the stock is currently owned by corporate insiders.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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