Quantitative Investment Management LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 6,691 shares of the oil and natural gas company’s stock, valued at approximately $1,176,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cedar Mountain Advisors LLC bought a new stake in shares of Diamondback Energy during the first quarter worth $26,000. Meeder Asset Management Inc. acquired a new stake in Diamondback Energy in the second quarter worth about $28,000. JPL Wealth Management LLC acquired a new stake in Diamondback Energy in the third quarter worth about $26,000. Wellington Shields & Co. LLC raised its holdings in 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 worth $28,000 after purchasing an additional 135 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Diamondback Energy during the 1st quarter worth about $40,000. 90.01% of the stock is owned by institutional investors and hedge funds.
Diamondback Energy Stock Up 1.4%
Diamondback Energy stock opened at $200.48 on Tuesday. The company’s 50-day moving average is $193.50 and its 200-day moving average is $190.92. The firm has a market capitalization of $56.14 billion, a PE ratio of 39.08 and a beta of 0.43. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $216.90.
Diamondback Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Thursday, August 13th. Diamondback Energy’s payout ratio is currently 85.77%.
Insider Buying and Selling at Diamondback Energy
In other Diamondback Energy 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 transaction of $6,613,600.53. Following the transaction, the director owned 818,197 shares in the company, valued at $162,338,466.77. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the sale, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This trade represents a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 117,167 shares of company stock valued at $22,305,309 over the last 90 days. 0.64% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several research analysts have recently issued reports on FANG shares. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $248.00 target price on shares of Diamondback Energy in a research note on Friday, July 31st. Morgan Stanley restated an “equal weight” rating and issued a $216.00 price target on shares of Diamondback Energy in a report on Wednesday, August 19th. Wells Fargo & Company increased their price objective on shares of Diamondback Energy from $262.00 to $263.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Wall Street Zen raised Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Mizuho boosted their price target on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $222.21.
Get Our Latest Stock Report on FANG
About Diamondback Energy
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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