B. Metzler seel. Sohn & Co. AG Has $5.51 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

B. Metzler seel. Sohn & Co. AG decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANGGet Rating) by 24.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,493 shares of the oil and natural gas company’s stock after selling 15,039 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Diamondback Energy were worth $5,511,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FANG. Mutual of America Capital Management LLC boosted its holdings in Diamondback Energy by 1.1% during the first quarter. Mutual of America Capital Management LLC now owns 22,727 shares of the oil and natural gas company’s stock worth $3,115,000 after purchasing an additional 240 shares during the last quarter. DAVENPORT & Co LLC acquired a new position in Diamondback Energy during the first quarter worth $205,000. National Asset Management Inc. acquired a new position in Diamondback Energy during the first quarter worth $415,000. International Assets Investment Management LLC acquired a new position in Diamondback Energy during the first quarter worth $218,000. Finally, Metis Global Partners LLC acquired a new position in Diamondback Energy during the first quarter worth $371,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock traded down $1.45 on Thursday, hitting $149.99. The company’s stock had a trading volume of 2,309,848 shares, compared to its average volume of 2,629,032. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.58 and a current ratio of 0.61. The stock’s 50 day moving average is $144.49 and its 200-day moving average is $135.37. Diamondback Energy, Inc. has a fifty-two week low of $95.02 and a fifty-two week high of $168.95. The company has a market capitalization of $26.40 billion, a PE ratio of 6.11, a PEG ratio of 0.28 and a beta of 2.06.

Diamondback Energy declared that its board has approved a stock buyback plan on Monday, August 1st that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the oil and natural gas company to repurchase up to 17.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Diamondback Energy Announces Dividend

The firm also recently declared a None dividend, which will be paid on Friday, November 25th. Investors of record on Thursday, November 17th will be paid a $2.26 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a dividend yield of 4.7%. Diamondback Energy’s dividend payout ratio (DPR) is presently 12.22%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. MKM Partners increased their target price on shares of Diamondback Energy to $170.00 in a report on Tuesday, November 15th. Truist Financial upped their price target on shares of Diamondback Energy from $203.00 to $209.00 and gave the stock a “buy” rating in a research report on Friday, November 18th. Citigroup upped their price target on shares of Diamondback Energy from $155.00 to $170.00 in a research report on Tuesday. Roth Capital upped their price target on shares of Diamondback Energy from $150.00 to $182.00 in a research report on Tuesday, November 1st. Finally, Mizuho upped their price target on shares of Diamondback Energy from $203.00 to $211.00 and gave the stock a “buy” rating in a research report on Monday, October 24th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.85.

About Diamondback Energy

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Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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