FNY Investment Advisers LLC Buys New Holdings in Diamondback Energy, Inc. $FANG

FNY Investment Advisers LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 400 shares of the oil and natural gas company’s stock, valued at approximately $54,000.

Other hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its stake 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 valued at $5,784,000 after purchasing an additional 1,384 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Diamondback Energy by 50.4% during the first 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 acquiring an additional 2,397 shares during the last quarter. True North Advisors LLC acquired a new stake in Diamondback Energy during the first quarter worth approximately $327,000. Wealth Advisory Solutions LLC acquired a new stake in Diamondback Energy during the first quarter worth approximately $2,631,000. Finally, Nuveen LLC acquired a new stake in Diamondback Energy during the first quarter worth approximately $230,039,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FANG. Piper Sandler cut 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. William Blair began coverage on shares of Diamondback Energy in a research report on Monday, August 25th. They set an “outperform” rating for the company. KeyCorp cut their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd. 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. Finally, Wall Street Zen downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $189.91.

Diamondback Energy Stock Up 3.4%

Shares of FANG opened at $147.17 on Friday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $186.07. The firm’s 50 day moving average is $142.50 and its 200-day moving average is $140.66. The stock has a market capitalization of $42.60 billion, a PE ratio of 10.46 and a beta of 1.04. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last announced 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). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the business posted $4.52 earnings per share. The firm’s revenue for the quarter was up 48.1% compared to the same quarter last year. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. Diamondback Energy’s dividend payout ratio (DPR) is currently 28.43%.

Insider Activity at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction that occurred 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 transaction, the chairman directly owned 102,145 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 0.70% 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.