Rossby Financial LCC Buys 601 Shares of Diamondback Energy, Inc. $FANG

Rossby Financial LCC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 27.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,794 shares of the oil and natural gas company’s stock after buying an additional 601 shares during the period. Rossby Financial LCC’s holdings in Diamondback Energy were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Uhlmann Price Securities LLC boosted its stake in shares of Diamondback Energy by 1.3% in the second quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock valued at $699,000 after buying an additional 67 shares during the period. Investor s Fiduciary Advisor Network LLC boosted its stake in shares of Diamondback Energy by 2.1% in the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company’s stock valued at $569,000 after buying an additional 74 shares during the period. Mesirow Financial Investment Management Inc. boosted its stake in shares of Diamondback Energy by 5.6% in the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock valued at $226,000 after buying an additional 75 shares during the period. FourThought Financial Partners LLC boosted its holdings in shares of Diamondback Energy by 2.9% in the 1st quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock valued at $444,000 after purchasing an additional 78 shares in the last quarter. Finally, Biondo Investment Advisors LLC boosted its holdings in shares of Diamondback Energy by 0.3% in the 1st quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company’s stock valued at $4,614,000 after purchasing an additional 80 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FANG has been the subject of several recent analyst reports. Mizuho dropped their price objective on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Melius initiated coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Diamondback Energy in a research report on Wednesday, October 8th. Morgan Stanley dropped their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Finally, Barclays dropped their price objective on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Two 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. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $189.91.

Diamondback Energy Stock Down 1.0%

Shares of FANG opened at $144.40 on Tuesday. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $186.07. The stock has a market capitalization of $41.80 billion, a price-to-earnings ratio of 10.26 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The stock has a fifty day moving average of $142.71 and a 200-day moving average of $141.10.

Diamondback Energy (NASDAQ:FANG) last announced 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). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the company posted $4.52 earnings per share. The firm’s revenue was up 48.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $1.00 per share. 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 dividend payout ratio (DPR) is currently 28.43%.

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the transaction, the chairman directly owned 102,145 shares of the company’s stock, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

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.