Trexquant Investment LP Makes New $6.72 Million Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Trexquant Investment LP purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 43,356 shares of the oil and natural gas company’s stock, valued at approximately $6,724,000.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Diamondback Energy by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after acquiring an additional 648,317 shares in the last quarter. Morgan Stanley boosted its holdings in Diamondback Energy by 2.6% in the third quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock worth $541,175,000 after acquiring an additional 89,663 shares in the last quarter. Invesco Ltd. grew its stake in shares of Diamondback Energy by 6.6% in the third quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock worth $514,289,000 after acquiring an additional 206,189 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Diamondback Energy by 39.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock worth $465,817,000 after purchasing an additional 858,446 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Diamondback Energy by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,213,631 shares of the oil and natural gas company’s stock valued at $343,296,000 after purchasing an additional 188,590 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Down 1.5 %

Shares of NASDAQ:FANG traded down $2.94 during trading hours on Wednesday, hitting $193.62. 109,557 shares of the company’s stock traded hands, compared to its average volume of 1,674,377. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. The business has a fifty day moving average price of $199.92 and a 200-day moving average price of $173.97. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96. The firm has a market capitalization of $34.53 billion, a P/E ratio of 11.08 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the company posted $4.10 EPS. Diamondback Energy’s quarterly revenue was up 15.7% on a year-over-year basis. Equities analysts expect that Diamondback Energy, Inc. will post 19.01 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be given a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.86%. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FANG shares. BMO Capital Markets increased their price objective on Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a research report on Tuesday, February 13th. Truist Financial upped their price target on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. UBS Group lifted their price objective on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Morgan Stanley decreased their target price on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Finally, Barclays initiated coverage on shares of Diamondback Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.95.

Insiders Place Their Bets

In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the completion of the sale, the chief financial officer now owns 185,882 shares in the company, valued at $35,470,003.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the transaction, the chief financial officer now owns 185,882 shares in the company, valued at $35,470,003.24. The disclosure for this sale can be found here. Insiders have sold 58,575 shares of company stock worth $11,491,006 in the last three months. Corporate insiders own 0.43% of the company’s stock.

Diamondback Energy Company 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.