Second Half Financial Partners LLC Sells 91 Shares of Diamondback Energy, Inc. $FANG

Second Half Financial Partners LLC reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.9% during the second quarter, HoldingsChannel.com reports. The fund owned 3,054 shares of the oil and natural gas company’s stock after selling 91 shares during the quarter. Second Half Financial Partners LLC’s holdings in Diamondback Energy were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. CWM LLC lifted its holdings in Diamondback Energy by 48.0% during the second quarter. CWM LLC now owns 12,170 shares of the oil and natural gas company’s stock worth $1,672,000 after acquiring an additional 3,945 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Diamondback Energy by 31.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 35,364 shares of the oil and natural gas company’s stock worth $4,859,000 after acquiring an additional 8,530 shares during the period. Inspire Investing LLC lifted its holdings in Diamondback Energy by 10.1% during the second quarter. Inspire Investing LLC now owns 44,646 shares of the oil and natural gas company’s stock worth $6,134,000 after acquiring an additional 4,098 shares during the period. Aberdeen Group plc lifted its holdings in Diamondback Energy by 4.2% during the second quarter. Aberdeen Group plc now owns 98,547 shares of the oil and natural gas company’s stock worth $13,540,000 after acquiring an additional 4,017 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Diamondback Energy by 4.1% during the second quarter. Blue Trust Inc. now owns 2,553 shares of the oil and natural gas company’s stock worth $351,000 after acquiring an additional 100 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler dropped their price target on Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Barclays dropped their price target on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Melius Research initiated coverage on Diamondback Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price for the company. Raymond James Financial decreased their target price on Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 20th. Finally, Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a research report on Thursday. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $192.32.

Insider Buying and Selling at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the transaction, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $139.82 on Friday. The stock has a market cap of $40.48 billion, a PE ratio of 9.94 and a beta of 1.04. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $196.00. 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 $142.51 and a 200-day moving average of $141.03.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.05). The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. Diamondback Energy’s revenue for the quarter was up 48.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.52 earnings per share. Equities research analysts anticipate 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. Stockholders of record on Thursday, August 14th were given a $1.00 dividend. The ex-dividend date was Thursday, August 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.9%. Diamondback Energy’s payout ratio is 28.43%.

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.