Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 48.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,743 shares of the oil and natural gas company’s stock after selling 1,607 shares during the quarter. Aigen Investment Management LP’s holdings in Diamondback Energy were worth $300,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FANG. Ashton Thomas Private Wealth LLC grew its holdings in shares of Diamondback Energy by 19.7% during the third quarter. Ashton Thomas Private Wealth LLC now owns 13,867 shares of the oil and natural gas company’s stock worth $2,391,000 after buying an additional 2,281 shares in the last quarter. Meridian Management Co. raised its holdings in Diamondback Energy by 2.1% in the 3rd quarter. Meridian Management Co. now owns 20,883 shares of the oil and natural gas company’s stock valued at $3,600,000 after acquiring an additional 426 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Diamondback Energy by 3.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 433,607 shares of the oil and natural gas company’s stock worth $74,754,000 after purchasing an additional 16,348 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Diamondback Energy by 10.3% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,695 shares of the oil and natural gas company’s stock worth $465,000 after purchasing an additional 251 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its position in shares of Diamondback Energy by 24.8% in the third quarter. Nations Financial Group Inc. IA ADV now owns 8,540 shares of the oil and natural gas company’s stock valued at $1,472,000 after purchasing an additional 1,697 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the topic of several analyst reports. Piper Sandler lifted their price target on Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Citigroup initiated coverage on Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. Susquehanna lowered their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Morgan Stanley lifted their target price on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, KeyCorp lowered their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average target price of $209.64.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $176.60 on Friday. The stock has a 50-day simple moving average of $181.23 and a 200-day simple moving average of $191.63. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The stock has a market capitalization of $51.57 billion, a PE ratio of 10.11, a PEG ratio of 1.30 and a beta of 1.89.

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 analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the firm earned $5.49 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. On average, analysts predict that Diamondback Energy, Inc. will post 16.78 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Diamondback Energy Company 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.