Lynx Investment Advisory Raises Stake in Diamondback Energy, Inc. $FANG

Lynx Investment Advisory raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,866 shares of the oil and natural gas company’s stock after acquiring an additional 127 shares during the quarter. Lynx Investment Advisory’s holdings in Diamondback Energy were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FANG. Wealth Enhancement Advisory Services LLC lifted its stake in Diamondback Energy by 145.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,162 shares of the oil and natural gas company’s stock worth $6,416,000 after acquiring an additional 23,191 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Diamondback Energy by 19.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,602 shares of the oil and natural gas company’s stock worth $416,000 after buying an additional 430 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Diamondback Energy by 3.7% during the 1st quarter. Rhumbline Advisers now owns 353,765 shares of the oil and natural gas company’s stock worth $56,560,000 after buying an additional 12,534 shares during the last quarter. Czech National Bank lifted its position in shares of Diamondback Energy by 5.9% during the 1st quarter. Czech National Bank now owns 42,921 shares of the oil and natural gas company’s stock worth $6,862,000 after buying an additional 2,403 shares during the last quarter. Finally, NBC Securities Inc. lifted its position in shares of Diamondback Energy by 153,020.0% during the 1st quarter. NBC Securities Inc. now owns 7,656 shares of the oil and natural gas company’s stock worth $1,224,000 after buying an additional 7,651 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.3%

FANG stock opened at $143.10 on Wednesday. The company has a fifty day moving average price of $142.85 and a 200 day moving average price of $141.74. 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 $41.43 billion, a price-to-earnings ratio of 10.17 and a beta of 1.14. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

Diamondback Energy (NASDAQ:FANG) last released its quarterly 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). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter last year, the company earned $4.52 EPS. The firm’s revenue for the quarter was up 48.1% compared to the same quarter last year. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s payout ratio is currently 28.43%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FANG. Melius Research began coverage on shares of Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. Piper Sandler reduced 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 report on Thursday, August 14th. Scotiabank restated an “outperform” rating on shares of Diamondback Energy in a research report on Friday, July 11th. Raymond James Financial reduced their price objective on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 20th. Finally, UBS Group boosted their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $193.39.

Insider Transactions at Diamondback Energy

In other Diamondback Energy 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 value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

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.