Trifecta Capital Advisors LLC Increases Stock Holdings in Diamondback Energy, Inc. $FANG

Trifecta Capital Advisors LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 2,715.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,267 shares of the oil and natural gas company’s stock after buying an additional 1,222 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Diamondback Energy were worth $174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FANG. Merit Financial Group LLC lifted its holdings in shares of Diamondback Energy by 35.5% in the first quarter. Merit Financial Group LLC now owns 3,137 shares of the oil and natural gas company’s stock worth $501,000 after buying an additional 822 shares in the last quarter. UMB Bank n.a. raised its stake in Diamondback Energy by 172.8% in the first quarter. UMB Bank n.a. now owns 521 shares of the oil and natural gas company’s stock valued at $83,000 after purchasing an additional 330 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Diamondback Energy by 36.0% in the first quarter. Farther Finance Advisors LLC now owns 1,085 shares of the oil and natural gas company’s stock valued at $174,000 after purchasing an additional 287 shares in the last quarter. SG Americas Securities LLC raised its stake in Diamondback Energy by 17.2% in the first quarter. SG Americas Securities LLC now owns 50,450 shares of the oil and natural gas company’s stock valued at $8,066,000 after purchasing an additional 7,407 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its stake in Diamondback Energy by 7.2% in the first quarter. Integrated Advisors Network LLC now owns 2,800 shares of the oil and natural gas company’s stock valued at $448,000 after purchasing an additional 187 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FANG has been the topic of a number of recent analyst reports. Mizuho lowered their target price on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. William Blair initiated coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. Wells Fargo & Company raised their target price on shares of Diamondback Energy from $210.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Finally, Melius initiated coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $192.55.

Insiders Place Their Bets

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the sale, the chairman owned 102,145 shares in the company, valued at $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Trading Up 0.1%

FANG stock opened at $149.07 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $197.68. The company’s 50 day moving average price is $142.72 and its two-hundred day moving average price is $141.45. The company has a market capitalization of $43.15 billion, a PE ratio of 10.59 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG) last issued 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 firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the firm earned $4.52 earnings per share. The firm’s quarterly revenue was up 48.1% compared to the same quarter last year. As a group, analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal 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 issued a $1.00 dividend. The ex-dividend date was Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.7%. Diamondback Energy’s payout ratio is 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.