Holocene Advisors LP Has $139.04 Million Stock Position in Diamondback Energy, Inc. $FANG

Holocene Advisors LP boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,011,919 shares of the oil and natural gas company’s stock after buying an additional 70,430 shares during the period. Holocene Advisors LP’s holdings in Diamondback Energy were worth $139,038,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FANG. Creekmur Asset Management LLC bought a new position in shares of Diamondback Energy in the second quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Diamondback Energy during the 2nd quarter valued at $29,000. SouthState Corp raised its position in Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 167 shares during the last quarter. Estabrook Capital Management acquired a new position in Diamondback Energy in the second quarter worth $41,000. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Diamondback Energy by 49.6% during the second quarter. Creative Financial Designs Inc. ADV now owns 368 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 122 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on FANG shares. William Blair started coverage on shares of Diamondback Energy in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Melius assumed coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price for the company. Piper Sandler decreased their price target on shares of Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a report on Thursday, October 9th. Finally, Wells Fargo & Company upped their price objective on Diamondback Energy from $160.00 to $169.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $188.76.

Diamondback Energy Trading Down 0.2%

Shares of NASDAQ FANG opened at $156.68 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $180.91. The firm has a market capitalization of $44.87 billion, a P/E ratio of 10.89 and a beta of 0.63. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The company’s 50 day simple moving average is $147.29 and its 200 day simple moving average is $144.22.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period last year, the company earned $3.19 EPS. The firm’s revenue was up 48.4% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Thursday, November 13th. Diamondback Energy’s payout ratio is presently 27.80%.

Insider Activity at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the sale, the director directly owned 1,044,864 shares in the company, valued at $144,828,599.04. This trade represents a 26.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by company insiders.

About Diamondback Energy

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.