Rosenberg Matthew Hamilton Boosts Stake in Diamondback Energy, Inc. $FANG

Rosenberg Matthew Hamilton lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 42.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,055 shares of the oil and natural gas company’s stock after purchasing an additional 315 shares during the period. Rosenberg Matthew Hamilton’s holdings in Diamondback Energy were worth $145,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its holdings in Diamondback Energy by 4.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company’s stock worth $5,784,000 after buying an additional 1,384 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Diamondback Energy by 6.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company’s stock worth $9,409,000 after buying an additional 3,467 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Diamondback Energy by 50.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company’s stock worth $1,143,000 after buying an additional 2,397 shares during the period. True North Advisors LLC bought a new position in Diamondback Energy in the 1st quarter worth $327,000. Finally, Wealth Advisory Solutions LLC bought a new position in Diamondback Energy in the 1st quarter worth $2,631,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.1%

Shares of NASDAQ FANG opened at $141.94 on Thursday. The firm’s 50-day moving average price is $142.27 and its 200-day moving average price is $140.80. 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 $41.09 billion, a price-to-earnings ratio of 10.09 and a beta of 1.04. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $186.74.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.05). The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm’s quarterly revenue was up 48.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.52 earnings per share. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a report on Thursday, October 9th. Piper Sandler dropped their target price on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Mizuho dropped their price objective on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Susquehanna dropped their price objective on shares of Diamondback Energy from $192.00 to $188.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Finally, Melius Research assumed coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $192.23.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction dated 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 sale, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This represents a 16.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% 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.