GQG Partners LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 587,036 shares of the oil and natural gas company’s stock, valued at approximately $103,192,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC acquired a new position in Diamondback Energy during the fourth quarter worth $26,000. Cedar Mountain Advisors LLC purchased a new position in shares of Diamondback Energy during the 1st quarter worth $26,000. JPL Wealth Management LLC purchased a new position in shares of Diamondback Energy during the 3rd quarter worth $26,000. Wellington Shields & Co. LLC boosted its position in shares of Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after acquiring an additional 135 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Diamondback Energy during the 2nd quarter valued at about $28,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on FANG. Truist Financial raised their price objective on shares of Diamondback Energy from $220.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Roth Capital set a $212.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Monday, June 22nd. Mizuho raised their price target on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a $205.00 price target on shares of Diamondback Energy in a research report on Sunday, August 9th. Finally, Sanford C. Bernstein upped their price objective on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.21.
Insider Buying and Selling
In other news, Director Charles Alvin Meloy sold 33,333 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $198.41, for a total value of $6,613,600.53. Following the sale, the director directly owned 818,197 shares in the company, valued at approximately $162,338,466.77. This trade represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was 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 of the company’s stock, valued at $17,228,179.50. The trade was a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 129,167 shares of company stock worth $24,714,309 over the last ninety days. Insiders own 0.64% of the company’s stock.
Diamondback Energy Stock Performance
Shares of Diamondback Energy stock opened at $210.72 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. The stock has a market capitalization of $59.01 billion, a price-to-earnings ratio of 41.08 and a beta of 0.43. The business has a 50-day moving average of $191.79 and a 200 day moving average of $189.22. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $216.90.
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 for the quarter, topping the consensus estimate of $6.08 by $0.40. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.38 EPS. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.
Diamondback Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. Diamondback Energy’s dividend payout ratio is currently 85.77%.
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.
Read More
- Five stocks we like better than Diamondback Energy
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Want to see what other hedge funds are holding FANG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondback Energy, Inc. (NASDAQ:FANG – Free Report).
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.
