Stephens Inc. AR Grows Position in Diamondback Energy, Inc. $FANG

Stephens Inc. AR lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,367 shares of the oil and natural gas company’s stock after buying an additional 206 shares during the quarter. Stephens Inc. AR’s holdings in Diamondback Energy were worth $600,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FANG. BankPlus Trust Department purchased a new position in shares of Diamondback Energy in the first quarter worth $27,000. SouthState Corp raised its stake in Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 167 shares in the last quarter. WASHINGTON TRUST Co raised its stake in 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 valued at $32,000 after purchasing an additional 109 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Diamondback Energy during the first quarter valued at $33,000. Finally, Catalyst Capital Advisors LLC raised its stake in Diamondback Energy by 60.9% during the first quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company’s stock valued at $35,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 0.9%

NASDAQ FANG opened at $145.86 on Friday. The company’s 50-day moving average price is $142.61 and its 200-day moving average price is $140.99. 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 cap of $42.23 billion, a PE ratio of 10.37 and a beta of 1.04. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $186.07.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS 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 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 company’s revenue for the quarter was up 48.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.52 earnings per share. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current 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 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is presently 28.43%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the 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 transaction, the chairman directly owned 102,145 shares in the company, valued at $14,586,306. This represents a 16.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Piper Sandler decreased their price target on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Wells Fargo & Company decreased their price target on shares of Diamondback Energy from $211.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Diamondback Energy in a research note on Friday. Royal Bank Of Canada reiterated an “outperform” rating and set a $173.00 price objective on shares of Diamondback Energy in a research report on Friday, October 10th. Finally, Wall Street Zen cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Buy” and a consensus price target of $189.91.

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.