Diamondback Energy, Inc. $FANG Position Trimmed by Camelot Technology Advisors Inc.

Camelot Technology Advisors Inc. lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 18.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,271 shares of the oil and natural gas company’s stock after selling 1,595 shares during the period. Diamondback Energy accounts for 0.9% of Camelot Technology Advisors Inc.’s portfolio, making the stock its 24th biggest holding. Camelot Technology Advisors Inc.’s holdings in Diamondback Energy were worth $999,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BankPlus Trust Department bought a new position in Diamondback Energy in the 1st quarter valued at about $27,000. Pinnacle Bancorp Inc. grew its position in Diamondback Energy by 95.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock valued at $29,000 after buying an additional 88 shares in the last quarter. SouthState Corp grew its position in Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 167 shares in the last quarter. Grove Bank & Trust grew its position in Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock valued at $32,000 after buying an additional 80 shares in the last quarter. Finally, WASHINGTON TRUST Co lifted its holdings in Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 109 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America upped 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. UBS Group upped their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. William Blair assumed coverage on shares of Diamondback Energy in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Melius Research assumed coverage on shares of Diamondback Energy in a research report on Wednesday, August 20th. They issued 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 research report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $193.39.

Insider Buying and Selling

In related news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the transaction, the chairman directly owned 102,145 shares of the company’s stock, valued at $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Up 2.9%

FANG opened at $138.42 on Wednesday. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year 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 $40.07 billion, a price-to-earnings ratio of 9.84 and a beta of 1.14. The business has a 50 day moving average of $142.50 and a 200-day moving average of $141.86.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The firm’s revenue for the quarter was up 48.1% compared to the same quarter last year. During the same period last year, the business earned $4.52 earnings per share. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

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

About Diamondback Energy

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.