MGO One Seven LLC Acquires 9,738 Shares of Diamondback Energy, Inc. $FANG

MGO One Seven LLC grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 292.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,063 shares of the oil and natural gas company’s stock after acquiring an additional 9,738 shares during the quarter. MGO One Seven LLC’s holdings in Diamondback Energy were worth $1,869,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Diamondback Energy by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock valued at $3,204,894,000 after purchasing an additional 388,512 shares during the last quarter. Boston Partners boosted its position in Diamondback Energy by 2.8% during the second quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock valued at $766,914,000 after buying an additional 151,150 shares during the period. Geode Capital Management LLC grew its stake in shares of Diamondback Energy by 2.7% during the second quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock valued at $746,526,000 after buying an additional 142,649 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Diamondback Energy by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock valued at $637,841,000 after buying an additional 384,971 shares during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of Diamondback Energy by 9.2% in the second quarter. Raymond James Financial Inc. now owns 1,952,276 shares of the oil and natural gas company’s stock worth $268,243,000 after buying an additional 164,293 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

FANG opened at $153.73 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The stock has a market capitalization of $44.03 billion, a PE ratio of 10.68 and a beta of 0.59. The stock’s 50 day moving average price is $150.02 and its 200-day moving average price is $145.15. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $180.91.

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

Diamondback Energy Announces Dividend

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

Analysts Set New Price Targets

FANG has been the subject of several analyst reports. Sanford C. Bernstein dropped their target price on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $173.00 price target on shares of Diamondback Energy in a research note on Friday, October 10th. Wells Fargo & Company increased their price objective on Diamondback Energy from $160.00 to $169.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Roth Capital set a $162.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Citigroup decreased their target price on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Diamondback Energy has an average rating of “Buy” and a consensus price target of $188.67.

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.