TFR Capital LLC. purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 8,287 shares of the oil and natural gas company’s stock, valued at approximately $1,457,000.
Several other hedge funds and other institutional investors have also made changes to their positions in FANG. Boston Partners increased its holdings in shares of Diamondback Energy by 2.9% in the third quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after purchasing an additional 163,548 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Diamondback Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after buying an additional 14,625 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Diamondback Energy by 11.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after buying an additional 532,756 shares during the last quarter. Capital Research Global Investors boosted its stake in Diamondback Energy by 14.1% during the fourth quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after buying an additional 534,073 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Diamondback Energy by 3.2% during the fourth quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company’s stock valued at $575,605,000 after buying an additional 117,798 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.
Diamondback Energy Stock Up 1.5%
Shares of NASDAQ:FANG opened at $202.47 on Friday. The company has a market cap of $56.70 billion, a price-to-earnings ratio of 39.47 and a beta of 0.43. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $214.51. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $190.31 and a 200 day moving average price of $187.50.
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 issued a $1.10 dividend. The ex-dividend date is Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy’s payout ratio is 85.77%.
Insider Buying and Selling
In other news, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the transaction, the director owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 85,755 shares in the company, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 134,167 shares of company stock worth $25,749,309 in the last 90 days. Company insiders own 0.64% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Susquehanna lifted their price objective on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $248.00 price objective on shares of Diamondback Energy in a report on Friday, July 31st. Zacks Research downgraded Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. UBS Group cut their target price on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Finally, Barclays boosted their price target on shares of Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $222.30.
Get Our Latest Stock Report on FANG
Diamondback Energy Company Profile
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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