Dockside LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 12,038 shares of the oil and natural gas company’s stock, valued at approximately $2,116,000.
A number of other large investors have also recently added to or reduced their stakes in the company. Cresset Asset Management LLC grew its holdings in Diamondback Energy by 37.5% during the second quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock worth $649,000 after purchasing an additional 1,288 shares during the period. Jump Financial LLC bought a new stake in Diamondback Energy in the second quarter valued at approximately $2,301,000. Cerity Partners LLC lifted its position in shares of Diamondback Energy by 13.5% in the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock valued at $7,022,000 after buying an additional 6,069 shares during the last quarter. AXA S.A. lifted its position in shares of Diamondback Energy by 8.5% in the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock valued at $7,194,000 after buying an additional 4,103 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Diamondback Energy by 37.1% during the 2nd quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock worth $21,239,000 after acquiring an additional 41,866 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.
Insider Buying and Selling
In other news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the sale, the executive vice president directly owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. This represents a 9.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the transaction, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 134,167 shares of company stock valued at $25,749,309. 0.64% of the stock is owned by insiders.
Diamondback Energy Price Performance
Diamondback Energy (NASDAQ:FANG – Get Free Report) last announced its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the business posted $2.38 EPS. The business’s revenue was up 51.2% compared to the same quarter last year. Analysts forecast that Diamondback Energy, Inc. will post 19.73 EPS for the current year.
Diamondback Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, August 13th. Diamondback Energy’s dividend payout ratio is presently 85.77%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on FANG shares. Morgan Stanley decreased their target price on Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. UBS Group reduced their price objective on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Wolfe Research reiterated an “outperform” rating and set a $206.00 target price on shares of Diamondback Energy in a research note on Tuesday, August 4th. Citigroup dropped their price target on Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a report on Monday, August 10th. Finally, Wall Street Zen upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Buy” and an average target price of $222.30.
Read Our Latest Research Report on Diamondback Energy
About Diamondback Energy
Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.
Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.
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