Bridgewater Associates LP Has $18.73 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Bridgewater Associates LP boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 41.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,620 shares of the oil and natural gas company’s stock after purchasing an additional 31,980 shares during the quarter. Bridgewater Associates LP’s holdings in Diamondback Energy were worth $18,726,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FANG. First Community Trust NA bought a new position in shares of Diamondback Energy in the 2nd quarter valued at $26,000. Carolinas Wealth Consulting LLC grew its position in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in Diamondback Energy during the second quarter worth about $40,000. Values First Advisors Inc. bought a new position in shares of Diamondback Energy in the third quarter worth about $42,000. Finally, Founders Capital Management boosted its stake in shares of Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 125 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. UBS Group decreased their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Truist Financial raised their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Wednesday, November 6th. Finally, Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $212.00.

Insider Transactions at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 0.1 %

Shares of Diamondback Energy stock opened at $176.19 on Thursday. The company has a market capitalization of $51.45 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 1.32 and a beta of 1.89. The stock has a fifty day simple moving average of $182.13 and a 200 day simple moving average of $190.18. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last released its quarterly 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). The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.49 earnings per share. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

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.