Unison Advisors LLC Acquires 125 Shares of Diamondback Energy, Inc. $FANG

Unison Advisors LLC boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.8% in the second quarter, Holdings Channel reports. The firm owned 15,825 shares of the oil and natural gas company’s stock after purchasing an additional 125 shares during the quarter. Unison Advisors LLC’s holdings in Diamondback Energy were worth $2,174,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FANG. BankPlus Trust Department bought a new position in Diamondback Energy during the first quarter worth about $27,000. Pinnacle Bancorp Inc. increased its holdings in shares of Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 88 shares in the last quarter. SouthState Corp increased its holdings in shares of Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 167 shares in the last quarter. WASHINGTON TRUST Co increased its holdings in shares of Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock worth $32,000 after buying an additional 109 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Diamondback Energy during the first quarter worth approximately $33,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $139.09 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The firm has a market cap of $40.27 billion, a P/E ratio of 9.89 and a beta of 1.04. The firm has a 50 day simple moving average of $142.18 and a 200 day simple moving average of $140.36. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $186.74.

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

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s payout ratio is currently 28.43%.

Insider Buying and Selling

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on 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 completion of the sale, the chairman 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Diamondback Energy in a report on Wednesday, October 8th. Melius 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. Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a report on Thursday, October 9th. UBS Group raised their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, William Blair began coverage on shares of Diamondback Energy in a report on Monday, August 25th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $189.91.

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.