Metis Global Partners LLC Has $1.33 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Metis Global Partners LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,689 shares of the oil and natural gas company’s stock after acquiring an additional 845 shares during the quarter. Metis Global Partners LLC’s holdings in Diamondback Energy were worth $1,326,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FANG. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Diamondback Energy by 178.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock valued at $6,112,000 after purchasing an additional 19,552 shares in the last quarter. Atria Investments Inc lifted its stake in Diamondback Energy by 18.5% in the 3rd quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock worth $7,358,000 after acquiring an additional 6,672 shares in the last quarter. Cullen Investment Group LTD. boosted its position in Diamondback Energy by 33.5% during the 3rd quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock worth $2,065,000 after acquiring an additional 3,008 shares during the period. ORG Partners LLC grew its stake in Diamondback Energy by 2,768.9% during the 2nd quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock valued at $883,000 after acquiring an additional 4,181 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new position in shares of Diamondback Energy in the 1st quarter valued at about $40,533,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $176.60 on Friday. The firm 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. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The firm’s fifty day simple moving average is $181.16 and its 200 day simple moving average is $191.43.

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

Diamondback Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Citigroup started coverage on shares of Diamondback Energy in a research note on Monday, October 14th. They set a “neutral” rating and a $195.00 target price for the company. Benchmark restated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. KeyCorp cut their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Jefferies Financial Group initiated coverage on Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $209.64.

Insider Activity

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

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.