Legal & General Group Plc Has $154.03 Million Position in Diamondback Energy, Inc. $FANG

Legal & General Group Plc lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,024,615 shares of the oil and natural gas company’s stock after selling 75,263 shares during the quarter. Legal & General Group Plc’s holdings in Diamondback Energy were worth $154,030,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FANG. Flagship Harbor Advisors LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at $25,000. Richardson Financial Services Inc. lifted its stake in shares of Diamondback Energy by 245.1% during the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after buying an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth about $26,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Diamondback Energy during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, Director Steven E. West sold 6,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $188.35, for a total value of $1,130,100.00. Following the completion of the sale, the director owned 4,484 shares in the company, valued at $844,561.40. The trade was a 57.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Teresa L. Dick sold 5,000 shares of Diamondback Energy stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $207.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the chief accounting officer owned 92,755 shares of the company’s stock, valued at $19,200,285. This trade represents a 5.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 174,321 shares of company stock worth $32,090,475. 0.64% of the stock is currently owned by insiders.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $192.84 on Thursday. Diamondback Energy, Inc. has a twelve month low of $133.75 and a twelve month high of $214.51. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. The company has a 50-day simple moving average of $195.10 and a two-hundred day simple moving average of $171.30. The stock has a market capitalization of $54.25 billion, a price-to-earnings ratio of 224.24 and a beta of 0.46.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the previous year, the company earned $4.54 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Analysts forecast that Diamondback Energy, Inc. will post 19.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a $1.10 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.3%. Diamondback Energy’s dividend payout ratio is presently 511.63%.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of research reports. Mizuho raised their target price on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group raised their target price on shares of Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. UBS Group raised their target price on shares of Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. TD Cowen upgraded shares of Diamondback Energy to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Morgan Stanley raised their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Five research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $223.26.

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.