MetLife Investment Management LLC Grows Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

MetLife Investment Management LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,738 shares of the oil and natural gas company’s stock after acquiring an additional 1,180 shares during the period. MetLife Investment Management LLC’s holdings in Diamondback Energy were worth $8,402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Janus Henderson Group PLC grew its stake in shares of Diamondback Energy by 74.1% in the first quarter. Janus Henderson Group PLC now owns 39,485 shares of the oil and natural gas company’s stock valued at $7,824,000 after buying an additional 16,804 shares in the last quarter. Tidal Investments LLC grew its position in Diamondback Energy by 65.8% in the first quarter. Tidal Investments LLC now owns 14,786 shares of the oil and natural gas company’s stock valued at $2,929,000 after acquiring an additional 5,869 shares in the last quarter. Comerica Bank raised its stake in shares of Diamondback Energy by 3.0% during the first quarter. Comerica Bank now owns 67,093 shares of the oil and natural gas company’s stock valued at $13,296,000 after purchasing an additional 1,985 shares during the period. Citizens Financial Group Inc. RI lifted its position in shares of Diamondback Energy by 5.6% during the first quarter. Citizens Financial Group Inc. RI now owns 2,098 shares of the oil and natural gas company’s stock worth $416,000 after purchasing an additional 111 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Diamondback Energy during the 1st quarter valued at $73,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of recent analyst reports. KeyCorp cut their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Evercore ISI cut their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $205.00 to $215.00 in a research note on Friday, October 4th. UBS Group dropped their price objective on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. began coverage on Diamondback Energy in a research note on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $212.00.

Insider Buying and Selling

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on 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 owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Up 0.1 %

Shares of Diamondback Energy stock opened at $176.19 on Friday. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. 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 business’s fifty day moving average price is $182.02 and its two-hundred day moving average price is $190.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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 company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $5.49 EPS. As a group, research analysts forecast that Diamondback Energy, Inc. will post 16.26 EPS for the current year.

Diamondback Energy Dividend Announcement

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

Diamondback Energy Company 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.