Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Raised by Coastal Investment Advisors Inc.

Coastal Investment Advisors Inc. grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 24.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,959 shares of the oil and natural gas company’s stock after acquiring an additional 390 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in Diamondback Energy were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in FANG. State Street Corp boosted its position in Diamondback Energy by 1.0% during the 1st quarter. State Street Corp now owns 11,656,848 shares of the oil and natural gas company’s stock valued at $1,575,653,000 after purchasing an additional 112,297 shares during the period. Wellington Management Group LLP boosted its position in Diamondback Energy by 149.7% during the 1st quarter. Wellington Management Group LLP now owns 11,257,540 shares of the oil and natural gas company’s stock valued at $1,521,682,000 after purchasing an additional 6,748,670 shares during the period. Geode Capital Management LLC boosted its position in Diamondback Energy by 4.8% during the 1st quarter. Geode Capital Management LLC now owns 3,919,925 shares of the oil and natural gas company’s stock valued at $528,736,000 after purchasing an additional 179,405 shares during the period. Morgan Stanley boosted its position in Diamondback Energy by 2.5% during the 4th quarter. Morgan Stanley now owns 3,572,083 shares of the oil and natural gas company’s stock valued at $488,590,000 after purchasing an additional 85,618 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Diamondback Energy by 20.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,056,732 shares of the oil and natural gas company’s stock valued at $277,983,000 after purchasing an additional 347,833 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FANG. Benchmark reiterated a “buy” rating and set a $154.00 price target on shares of Diamondback Energy in a research report on Thursday, October 12th. Raymond James increased their target price on shares of Diamondback Energy from $173.00 to $191.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 14th. Piper Sandler boosted their price target on shares of Diamondback Energy from $185.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th. Susquehanna increased their price objective on shares of Diamondback Energy from $200.00 to $203.00 and gave the company a “positive” rating in a report on Wednesday, November 8th. Finally, Citigroup cut Diamondback Energy from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $160.00 to $170.00 in a report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.42.

Insider Activity

In other news, Director David L. Houston sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $156.54, for a total transaction of $1,252,320.00. Following the transaction, the director now directly owns 11,565 shares in the company, valued at approximately $1,810,385.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director David L. Houston sold 8,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $156.54, for a total value of $1,252,320.00. Following the completion of the sale, the director now directly owns 11,565 shares in the company, valued at $1,810,385.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matt Zmigrosky sold 2,706 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $157.17, for a total transaction of $425,302.02. Following the completion of the sale, the executive vice president now owns 27,480 shares of the company’s stock, valued at $4,319,031.60. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Up 0.6 %

NASDAQ FANG opened at $159.16 on Wednesday. Diamondback Energy, Inc. has a twelve month low of $119.01 and a twelve month high of $171.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 0.89. The stock has a market cap of $28.49 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 0.40 and a beta of 1.98. The firm’s 50 day moving average price is $157.91 and its two-hundred day moving average price is $144.65.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $5.49 earnings per share for the quarter, topping the consensus estimate of $4.90 by $0.59. Diamondback Energy had a net margin of 38.84% and a return on equity of 20.66%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the company posted $6.48 EPS. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. Equities analysts anticipate that Diamondback Energy, Inc. will post 18.22 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Wednesday, November 15th. Diamondback Energy’s dividend payout ratio is currently 19.07%.

Diamondback Energy Company Profile

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.