World Investment Advisors Has $3.86 Million Stake in Diamondback Energy, Inc. $FANG

World Investment Advisors grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 28,068 shares of the oil and natural gas company’s stock after buying an additional 3,077 shares during the quarter. World Investment Advisors’ holdings in Diamondback Energy were worth $3,857,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FANG. Nuveen LLC purchased a new position in shares of Diamondback Energy in the 1st quarter worth approximately $230,039,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Diamondback Energy in the 1st quarter worth approximately $77,622,000. Wellington Management Group LLP boosted its stake in shares of Diamondback Energy by 27.3% in the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock worth $311,792,000 after buying an additional 418,431 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Diamondback Energy by 50.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,135,759 shares of the oil and natural gas company’s stock worth $181,585,000 after buying an additional 381,542 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Diamondback Energy by 4.8% in the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock worth $861,961,000 after buying an additional 249,098 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $173.00 target price on shares of Diamondback Energy in a research note on Friday, October 10th. Mizuho cut their target price on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Scotiabank restated an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. Melius started coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target on the stock. Finally, KeyCorp lowered their price target on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $189.67.

Insider Activity

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the sale, the chairman owned 102,145 shares in the company, valued at $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Down 1.0%

NASDAQ:FANG opened at $142.15 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $41.15 billion, a PE ratio of 10.10 and a beta of 1.04. The firm’s 50 day moving average is $142.95 and its 200 day moving average is $141.33. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $186.07.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.05). The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The company’s revenue was up 48.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.52 EPS. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, August 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. Diamondback Energy’s dividend payout ratio is currently 28.43%.

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.