Diamondback Energy, Inc. $FANG Shares Purchased by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Diamondback Energy by 17.8% in the first quarter, bringing its total holdings to 52,707 shares, valued at approximately $8.43 million.
• Several institutional investors significantly boosted their positions in Diamondback Energy, with Jefferies Financial Group increasing its investment by 412.1%.
• Diamondback Energy recently announced a quarterly dividend of $1.00, representing a yield of 2.9%.

AQR Capital Management LLC grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 17.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,707 shares of the oil and natural gas company's stock after purchasing an additional 7,956 shares during the period. AQR Capital Management LLC's holdings in Diamondback Energy were worth $8,427,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FANG. Jefferies Financial Group Inc. grew its stake in Diamondback Energy by 412.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 7,799 shares of the oil and natural gas company's stock worth $1,278,000 after acquiring an additional 6,276 shares during the period. Janus Henderson Group PLC grew its position in shares of Diamondback Energy by 52.8% in the fourth quarter. Janus Henderson Group PLC now owns 80,957 shares of the oil and natural gas company's stock valued at $13,265,000 after purchasing an additional 27,983 shares during the period. NorthRock Partners LLC increased its stake in Diamondback Energy by 16.3% in the fourth quarter. NorthRock Partners LLC now owns 1,952 shares of the oil and natural gas company's stock valued at $320,000 after purchasing an additional 274 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in Diamondback Energy by 41.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 52,401 shares of the oil and natural gas company's stock worth $8,297,000 after buying an additional 15,298 shares during the period. Finally, Man Group plc lifted its position in Diamondback Energy by 126.7% during the fourth quarter. Man Group plc now owns 26,740 shares of the oil and natural gas company's stock worth $4,381,000 after buying an additional 14,943 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares of the company's stock, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a report on Friday, July 11th. Wall Street Zen lowered shares of Diamondback Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. KeyCorp cut their price target on shares of Diamondback Energy from $180.00 to $176.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 3rd. Piper Sandler lowered their price objective on shares of Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Finally, UBS Group upped their price objective on Diamondback Energy from $163.00 to $171.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $193.17.

Diamondback Energy Stock Down 0.9%

Shares of NASDAQ FANG opened at $138.42 on Friday. The stock has a fifty day moving average price of $142.75 and a 200 day moving average price of $142.32. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $200.47. The company has a market cap of $40.07 billion, a P/E ratio of 9.84 and a beta of 1.14.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.05). The company had revenue of $3.68 billion during 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%.Diamondback Energy's quarterly revenue was up 48.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.52 EPS. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.9%. Diamondback Energy's dividend payout ratio (DPR) is 28.43%.

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.

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