Voya Investment Management LLC Has $5.75 Million Stock Holdings in Diamondback Energy, Inc. $FANG

by · The Cerbat Gem

Voya Investment Management LLC trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 23.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,199 shares of the oil and natural gas company’s stock after selling 12,078 shares during the quarter. Voya Investment Management LLC’s holdings in Diamondback Energy were worth $5,752,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FANG. Vanguard Group Inc. boosted its holdings in shares of Diamondback Energy by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock valued at $3,204,894,000 after buying an additional 388,512 shares during the last quarter. Boston Partners raised its position in Diamondback Energy by 2.8% during the second quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock worth $766,914,000 after acquiring an additional 151,150 shares in the last quarter. Geode Capital Management LLC lifted its stake in Diamondback Energy by 2.7% in the second quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock valued at $746,526,000 after acquiring an additional 142,649 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Diamondback Energy by 9.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock valued at $637,841,000 after acquiring an additional 384,971 shares during the period. Finally, Raymond James Financial Inc. grew its position in shares of Diamondback Energy by 9.2% in the 2nd quarter. Raymond James Financial Inc. now owns 1,952,276 shares of the oil and natural gas company’s stock valued at $268,243,000 after acquiring an additional 164,293 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the transaction, the director directly owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. This trade represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FANG shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $173.00 target price on shares of Diamondback Energy in a report on Friday, October 10th. Mizuho set a $194.00 price target on Diamondback Energy in a research report on Friday, December 12th. UBS Group raised their price objective on Diamondback Energy from $174.00 to $194.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. Finally, Piper Sandler decreased their target price on Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $188.76.

Check Out Our Latest Report on FANG

Diamondback Energy Price Performance

Diamondback Energy stock opened at $147.47 on Thursday. The company has a market capitalization of $42.23 billion, a price-to-earnings ratio of 10.25 and a beta of 0.63. The company has a current ratio of 0.62, a quick ratio of 0.60 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 $180.91. The stock’s 50 day moving average is $148.08 and its 200-day moving average is $144.90.

Diamondback Energy (NASDAQ:FANG – Get Free Report) last released its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.14. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The firm’s quarterly revenue was up 48.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 EPS. Equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid a $1.00 dividend. The ex-dividend date was Thursday, November 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. Diamondback Energy’s dividend payout ratio is 27.80%.

Diamondback Energy Profile

(Free Report)

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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