Diamondback Energy, Inc. $FANG Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 218.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 277,046 shares of the oil and natural gas company's stock after acquiring an additional 190,090 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.10% of Diamondback Energy worth $48,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of FANG. Boston Partners boosted its stake in Diamondback Energy by 2.9% during the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company's stock valued at $821,649,000 after purchasing an additional 163,548 shares during the period. Geode Capital Management LLC grew its stake in shares of Diamondback Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company's stock worth $844,073,000 after purchasing an additional 14,625 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Diamondback Energy by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company's stock worth $775,607,000 after purchasing an additional 532,756 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Diamondback Energy by 14.1% in the fourth quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company's stock worth $651,363,000 after purchasing an additional 534,073 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Diamondback Energy by 3.2% during the fourth quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company's stock valued at $575,605,000 after purchasing an additional 117,798 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 500 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the transaction, the director directly owned 13,437 shares in the company, valued at $2,640,370.50. The trade was a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles Alvin Meloy sold 83,334 shares of Diamondback Energy stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total value of $15,593,458.08. Following the sale, the director owned 851,530 shares of the company's stock, valued at approximately $159,338,293.60. This represents a 8.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 139,167 shares of company stock worth $26,749,809 over the last quarter. Company insiders own 0.64% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Susquehanna boosted their target price on Diamondback Energy from $245.00 to $255.00 and gave the stock a "positive" rating in a report on Tuesday, July 21st. Zacks Research downgraded Diamondback Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 28th. Truist Financial raised their target price on Diamondback Energy from $220.00 to $224.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Scotiabank boosted their target price on shares of Diamondback Energy from $175.00 to $195.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 22nd. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Diamondback Energy presently has an average rating of "Buy" and an average target price of $220.75.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $188.04 on Friday. The firm's 50 day simple moving average is $190.39 and its 200-day simple moving average is $185.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.55. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The company has a market cap of $52.90 billion, a P/E ratio of 36.65 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.08 by $0.40. The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The company's revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 earnings per share. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 19.73 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 13th. Diamondback Energy's payout ratio is 85.77%.

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.

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