World Investment Advisors LLC Invests $3.94 Million in Diamondback Energy, Inc. (NASDAQ:FANG)

World Investment Advisors LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 22,823 shares of the oil and natural gas company’s stock, valued at approximately $3,935,000.

Several other hedge funds have also added to or reduced their stakes in the company. Zimmer Partners LP bought a new position in Diamondback Energy during the 3rd quarter worth $87,924,000. Holocene Advisors LP grew its stake in shares of Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after acquiring an additional 457,896 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after acquiring an additional 439,579 shares during the period. Bank of New York Mellon Corp raised its stake in Diamondback Energy by 16.0% in the 2nd 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 in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Diamondback Energy by 280.8% in the 2nd 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 period. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 0.7 %

Shares of FANG stock opened at $163.34 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $47.69 billion, a P/E ratio of 9.35, a P/E/G ratio of 1.21 and a beta of 1.88. Diamondback Energy, Inc. has a twelve month low of $147.93 and a twelve month high of $214.50. The stock’s fifty day simple moving average is $179.49 and its 200 day simple moving average is $188.04.

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 (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $5.49 EPS. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 16.28 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced 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. This represents a $3.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. This 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 accessible through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the 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 completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $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 Upgrades and Downgrades

Several research analysts have recently commented on FANG shares. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 target price on the stock. Truist Financial raised their price objective on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Wednesday, November 6th. Finally, Raymond James upped their price objective on shares of Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.17.

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.