KBC Group NV Buys 1,531 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

KBC Group NV lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 11.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,512 shares of the oil and natural gas company’s stock after acquiring an additional 1,531 shares during the period. KBC Group NV’s holdings in Diamondback Energy were worth $2,501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quent Capital LLC boosted its position in 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 acquiring an additional 54 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its holdings 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 purchasing an additional 55 shares during the last quarter. Financial Advocates Investment Management grew its position in 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 valued at $329,000 after purchasing an additional 55 shares in the last quarter. Sugarloaf Wealth Management LLC increased its stake in 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 buying an additional 56 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in 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 worth $82,000 after buying an additional 57 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FANG. Jefferies Financial Group assumed coverage on Diamondback Energy in a research report on Monday, September 16th. They issued a “hold” rating and a $185.00 target price on the stock. KeyCorp dropped their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. UBS Group decreased their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Finally, Truist Financial lifted their price objective on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $209.64.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $181.90 on Tuesday. The company has a 50-day simple moving average of $181.22 and a two-hundred day simple moving average of $191.22. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The stock has a market capitalization of $53.11 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.26 and a beta of 1.89. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued 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). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm posted $5.49 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Analysts forecast that Diamondback Energy, Inc. will post 16.78 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated 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 directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

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.