Citizens Financial Group Inc. RI Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Citizens Financial Group Inc. RI boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,795 shares of the oil and natural gas company’s stock after purchasing an additional 65 shares during the period. Citizens Financial Group Inc. RI’s holdings in Diamondback Energy were worth $482,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quent Capital LLC grew its holdings in shares of Diamondback Energy by 7.2% during the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after purchasing an additional 54 shares during the period. Carolinas Wealth Consulting LLC grew its stake in 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 period. Financial Advocates Investment Management increased its position in shares of Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after acquiring an additional 55 shares in the last quarter. Sugarloaf Wealth Management LLC raised its stake in shares of Diamondback Energy by 0.3% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock valued at $3,999,000 after acquiring an additional 56 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Diamondback Energy by 16.1% during the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $185.29 on Friday. The stock has a market capitalization of $54.10 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.34 and a beta of 1.89. The business’s fifty day moving average price is $182.15 and its 200 day moving average price is $190.72. 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, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted 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 analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business posted $5.49 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts forecast that Diamondback Energy, Inc. will post 16.35 EPS for the current year.

Diamondback Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FANG. Scotiabank lowered their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Piper Sandler raised their target price on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Evercore ISI reduced their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Finally, UBS Group reduced their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy 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 directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the company’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 transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

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.