Raleigh Capital Management Inc. Boosts Stock Position in Diamondback Energy, Inc. $FANG

Raleigh Capital Management Inc. grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 19.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,966 shares of the oil and natural gas company’s stock after purchasing an additional 481 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Diamondback Energy were worth $407,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Investor s Fiduciary Advisor Network LLC grew its position in Diamondback Energy by 2.1% during 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 acquiring an additional 74 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in shares of Diamondback Energy by 5.6% in the 1st 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 purchasing an additional 75 shares in the last quarter. FourThought Financial Partners LLC grew its holdings in shares of Diamondback Energy by 2.9% during 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 during the last quarter. Grove Bank & Trust raised its position in Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 80 shares during the period. Finally, Biondo Investment Advisors LLC lifted its stake in Diamondback Energy by 0.3% in the first quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company’s stock worth $4,614,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction that occurred 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 sale, the chairman directly 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 SEC, which can be accessed through this link. 0.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Raymond James Financial reduced their price objective on Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, August 20th. Mizuho reduced their price target on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. UBS Group boosted their price objective on Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Morgan Stanley increased their price objective on Diamondback Energy from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Finally, KeyCorp decreased their target price on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Buy” and an average target price of $193.39.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $143.10 on Wednesday. The business has a 50 day moving average of $142.85 and a 200 day moving average of $141.74. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47. The company has a market cap of $41.43 billion, a PE ratio of 10.17 and a beta of 1.14. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (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 company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the firm posted $4.52 earnings per share. The firm’s revenue for the quarter was up 48.1% compared to the same quarter last year. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is presently 28.43%.

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.