Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 17.4% during the third quarter, HoldingsChannel.com reports. The fund owned 81,689 shares of the oil and natural gas company’s stock after acquiring an additional 12,111 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Diamondback Energy were worth $14,083,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of FANG. First Community Trust NA acquired a new stake in shares of Diamondback Energy in the 2nd quarter worth approximately $26,000. Carolinas Wealth Consulting LLC grew its holdings in shares of Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the period. HHM Wealth Advisors LLC purchased a new stake in Diamondback Energy in the 2nd quarter valued at approximately $40,000. Values First Advisors Inc. purchased a new stake in Diamondback Energy in the 3rd quarter valued at approximately $42,000. Finally, Founders Capital Management lifted its stake in 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 buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.1 %

Shares of NASDAQ FANG opened at $176.19 on Friday. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The company has a market cap of $51.45 billion, a P/E ratio of 10.09, a P/E/G ratio of 1.32 and a beta of 1.89. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $182.02 and a 200 day moving average price of $190.08.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) 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 company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the company posted $5.49 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Research analysts anticipate that Diamondback Energy, Inc. will post 16.26 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

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

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents 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 available at this hyperlink. Also, 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FANG shares. Benchmark reaffirmed a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday, October 29th. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. KeyCorp reduced their target price on 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 upped their target price on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group started coverage on Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price target on the stock. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $212.00.

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.