QSM Asset Management Ltd Purchases Shares of 30,500 Diamondback Energy, Inc. $FANG

QSM Asset Management Ltd purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the third quarter, HoldingsChannel reports. The institutional investor purchased 30,500 shares of the oil and natural gas company’s stock, valued at approximately $4,309,000. Diamondback Energy comprises about 3.1% of QSM Asset Management Ltd’s investment portfolio, making the stock its 15th largest position.

Several other institutional investors also recently modified their holdings of the stock. Creekmur Asset Management LLC purchased a new stake in Diamondback Energy in the second quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the 2nd quarter worth $29,000. Estabrook Capital Management purchased a new stake in shares of Diamondback Energy during the 2nd quarter valued at $41,000. Cape Investment Advisory Inc. raised its position in shares of Diamondback Energy by 148.6% during the 1st quarter. Cape Investment Advisory Inc. now owns 343 shares of the oil and natural gas company’s stock valued at $55,000 after buying an additional 205 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of Diamondback Energy by 49.6% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 368 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 122 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Down 0.5%

Shares of FANG stock opened at $147.47 on Friday. The stock has a market capitalization of $42.23 billion, a PE ratio of 10.25 and a beta of 0.63. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $180.91. The business has a 50-day moving average of $148.24 and a 200 day moving average of $144.92. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.48 billion. During the same period in the previous year, the firm earned $3.19 EPS. The business’s quarterly revenue was up 48.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, November 13th. Diamondback Energy’s dividend payout ratio is currently 27.80%.

Analyst Ratings Changes

FANG has been the topic of a number of research analyst reports. KeyCorp reduced their target price on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 3rd. Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a research report on Thursday, October 9th. Wall Street Zen raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Mizuho set a $194.00 target price on Diamondback Energy in a research note on Friday, December 12th. Finally, Susquehanna reduced their price target on shares of Diamondback Energy to $188.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $188.76.

Insiders Place Their Bets

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the sale, the director owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. This represents a 26.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.