170,251 Diamondback Energy, Inc. $FANG Shares Purchased by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management increased its Diamondback Energy stake by 170,251 shares, or 5,358.9%, during the third quarter, bringing its holdings to 173,428 shares valued at approximately $31.9 million.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $226.71. Recent ratings included upgrades and price-target increases from Wells Fargo, UBS and Wall Street Zen.
• Diamondback Energy reported quarterly EPS of $6.48, exceeding estimates of $6.08, while revenue rose 51.2% year over year to $5.56 billion. However, insiders sold 141,666 shares worth about $28.1 million during the quarter.

Robeco Institutional Asset Management B.V. grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 5,358.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 173,428 shares of the oil and natural gas company's stock after acquiring an additional 170,251 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.06% of Diamondback Energy worth $31,878,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of FANG. Transamerica Financial Advisors LLC grew its holdings in Diamondback Energy by 21.0% during the second quarter. Transamerica Financial Advisors LLC now owns 294 shares of the oil and natural gas company's stock valued at $52,000 after purchasing an additional 51 shares during the period. Capital Advisors Inc. OK increased its position in Diamondback Energy by 2.9% in the second quarter. Capital Advisors Inc. OK now owns 1,929 shares of the oil and natural gas company's stock worth $339,000 after buying an additional 54 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Diamondback Energy by 4.9% in the second quarter. Rehmann Capital Advisory Group now owns 1,251 shares of the oil and natural gas company's stock valued at $220,000 after buying an additional 59 shares during the period. Wedbush Securities Inc. lifted its position in shares of Diamondback Energy by 1.5% during the 2nd quarter. Wedbush Securities Inc. now owns 4,979 shares of the oil and natural gas company's stock valued at $875,000 after buying an additional 72 shares during the last quarter. Finally, Wealth Intelligence LLC lifted its position in shares of Diamondback Energy by 3.0% during the 3rd quarter. Wealth Intelligence LLC now owns 2,444 shares of the oil and natural gas company's stock valued at $449,000 after buying an additional 72 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Analyst Ratings Changes

FANG has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on Diamondback Energy from $262.00 to $263.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Wall Street Zen raised shares of Diamondback Energy from a "hold" rating to a "buy" rating in a report on Sunday, September 13th. UBS Group increased their target price on shares of Diamondback Energy from $243.00 to $253.00 and gave the stock a "buy" rating in a research report on Monday, September 14th. Wolfe Research reiterated an "outperform" rating and issued a $206.00 target price on shares of Diamondback Energy in a research note on Tuesday, August 4th. Finally, Citigroup reduced their target price on shares of Diamondback Energy from $221.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $226.71.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Charles Meloy sold 33,333 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $183.74, for a total value of $6,124,605.42. Following the sale, the director directly owned 759,864 shares in the company, valued at $139,617,411.36. This represents a 4.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis Stice sold 75,000 shares of the firm's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $204.31, for a total transaction of $15,323,250.00. Following the completion of the transaction, the director directly owned 49,727 shares of the company's stock, valued at approximately $10,159,723.37. The trade was a 60.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 141,666 shares of company stock worth $28,061,456 over the last quarter. Corporate insiders own 0.64% of the company's stock.

Diamondback Energy Trading Down 1.9%

Shares of FANG opened at $197.14 on Friday. The business's 50-day moving average price is $197.29 and its 200-day moving average price is $194.38. Diamondback Energy, Inc. has a twelve month low of $137.03 and a twelve month high of $216.90. The stock has a market cap of $55.20 billion, a PE ratio of 38.43 and a beta of 0.55. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the firm posted $2.38 earnings per share. The company's revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities analysts forecast that Diamondback Energy, Inc. will post 21.04 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy's dividend payout ratio is 85.77%.

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. The company's operations are concentrated in the Permian Basin of West Texas and southeastern New Mexico, particularly the Midland and Delaware Basins.

Diamondback produces crude oil, natural gas and natural gas liquids from horizontal wells and related infrastructure. Its activities include drilling and completing wells, operating gathering and processing assets, and managing midstream services that support production.

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