Diamondback Energy, Inc. $FANG Stock Holdings Lifted by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Diamondback Energy by 44.9%, acquiring an additional 245,529 shares to own a total of 792,590 shares valued at approximately $126.7 million.
• Diamondback Energy's recent quarterly earnings showed a net margin of 27.25% and a revenue of $3.68 billion, surpassing analyst expectations of $3.35 billion.
• The company has a current dividend yield of 2.7%, with a recent quarterly dividend payment of $1.00 to shareholders.

Canada Pension Plan Investment Board lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 44.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 792,590 shares of the oil and natural gas company's stock after acquiring an additional 245,529 shares during the period. Canada Pension Plan Investment Board owned approximately 0.27% of Diamondback Energy worth $126,719,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FANG. Nuveen LLC acquired a new stake in shares of Diamondback Energy in the first quarter worth $230,039,000. Alyeska Investment Group L.P. acquired a new stake in Diamondback Energy during the 4th quarter valued at $185,193,000. GAMMA Investing LLC grew its holdings in Diamondback Energy by 16,197.8% during the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock valued at $96,827,000 after purchasing an additional 601,909 shares in the last quarter. Two Sigma Investments LP grew its holdings in Diamondback Energy by 5,748.3% during the 4th quarter. Two Sigma Investments LP now owns 448,624 shares of the oil and natural gas company's stock valued at $73,498,000 after purchasing an additional 440,953 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Diamondback Energy by 27.3% during the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company's stock valued at $311,792,000 after purchasing an additional 418,431 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Stock Up 0.7%

NASDAQ FANG traded up $1.10 during trading hours on Tuesday, reaching $149.86. 1,558,704 shares of the company traded hands, compared to its average volume of 2,400,389. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $200.47. 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 $43.38 billion, a PE ratio of 10.65 and a beta of 1.15. The company has a 50 day moving average of $142.62 and a two-hundred day moving average of $143.07.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the company earned $4.52 earnings per share. The company's revenue was up 48.1% compared to the same quarter last year. As a group, equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, August 14th. Diamondback Energy's dividend payout ratio (DPR) is presently 28.43%.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FANG. Bank of America raised their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Susquehanna lowered their price target on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Morgan Stanley raised their price target on shares of Diamondback Energy from $184.00 to $186.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Melius Research began coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $213.00 price target for the company. Finally, Wall Street Zen lowered shares of Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $193.33.

Diamondback Energy 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.