Natixis Advisors L.P. Purchases 23,179 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Natixis Advisors L.P. increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANGGet Rating) by 23.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,158 shares of the oil and natural gas company’s stock after acquiring an additional 23,179 shares during the quarter. Natixis Advisors L.P.’s holdings in Diamondback Energy were worth $16,745,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cambridge Trust Co. lifted its position in Diamondback Energy by 1,991.7% during the first quarter. Cambridge Trust Co. now owns 251 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 239 shares during the period. MCF Advisors LLC bought a new stake in Diamondback Energy in the 1st quarter worth about $35,000. Confluence Wealth Services Inc. bought a new stake in Diamondback Energy in the 4th quarter worth about $38,000. Creative Financial Designs Inc. ADV grew its stake in shares of Diamondback Energy by 235.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the oil and natural gas company’s stock valued at $46,000 after purchasing an additional 235 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Diamondback Energy by 52.4% during the 1st quarter. Allworth Financial LP now owns 349 shares of the oil and natural gas company’s stock valued at $48,000 after purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $133.28 on Thursday. The company has a market cap of $23.12 billion, a P/E ratio of 6.23, a P/E/G ratio of 0.24 and a beta of 2.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.69 and a current ratio of 0.73. The business’s 50 day moving average price is $122.99 and its 200-day moving average price is $131.99. Diamondback Energy, Inc. has a fifty-two week low of $73.26 and a fifty-two week high of $162.24.

Diamondback Energy (NASDAQ:FANGGet Rating) last released its earnings results on Monday, August 1st. The oil and natural gas company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.66 by $0.41. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.44 billion. Diamondback Energy had a return on equity of 25.12% and a net margin of 42.23%. The company’s revenue for the quarter was up 64.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.40 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 26.11 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 16th were given a $3.05 dividend. This represents a $12.20 annualized dividend and a yield of 9.15%. The ex-dividend date was Monday, August 15th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.70. Diamondback Energy’s dividend payout ratio is 14.03%.

Diamondback Energy announced that its Board of Directors has authorized a share repurchase program on Monday, August 1st that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the oil and natural gas company to repurchase up to 17.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Truist Financial boosted their price target on Diamondback Energy from $185.00 to $203.00 in a research note on Tuesday, July 19th. Piper Sandler cut their price target on Diamondback Energy from $196.00 to $191.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. Mizuho cut their price target on Diamondback Energy from $224.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, August 18th. Barclays boosted their price objective on Diamondback Energy from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, June 14th. Finally, MKM Partners reiterated a “buy” rating and set a $155.00 price objective on shares of Diamondback Energy in a research note on Wednesday, July 20th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $168.58.

Insider Buying and Selling at Diamondback Energy

In other news, CFO Hof Matthew Kaes Van’t sold 6,000 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $160.00, for a total transaction of $960,000.00. Following the transaction, the chief financial officer now owns 61,334 shares of the company’s stock, valued at approximately $9,813,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is currently owned by corporate insiders.

Diamondback Energy Company Profile

(Get Rating)

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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