Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 13.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,260 shares of the oil and natural gas company’s stock after acquiring an additional 391 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Diamondback Energy were worth $562,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FANG. First Community Trust NA purchased a new position in Diamondback Energy during the 2nd quarter worth $26,000. Carolinas Wealth Consulting LLC grew its holdings in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in Diamondback Energy in the 2nd quarter valued at about $40,000. Values First Advisors Inc. purchased a new stake in Diamondback Energy during the 3rd quarter valued at approximately $42,000. Finally, Founders Capital Management lifted its position in Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 125 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 stock was 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. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s 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 completion of the sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was 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.

Diamondback Energy Trading Up 1.4 %

Shares of Diamondback Energy stock opened at $185.29 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 debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business has a 50 day moving average price of $182.15 and a 200 day moving average price of $190.72. The company has a market capitalization of $54.10 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.34 and a beta of 1.89.

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 company 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 business’s quarterly 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. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 16.35 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FANG. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. 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. Citigroup assumed coverage on shares of Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price on the stock. Benchmark reissued a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. began coverage on Diamondback Energy in a report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price objective 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $212.00.

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.