iSAM Funds UK Ltd raised its position in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 57.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,700 shares of the oil and natural gas company’s stock after purchasing an additional 3,540 shares during the quarter. Diamondback Energy makes up approximately 1.2% of iSAM Funds UK Ltd’s holdings, making the stock its 12th biggest position. iSAM Funds UK Ltd’s holdings in Diamondback Energy were worth $1,705,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Cedar Mountain Advisors LLC acquired a new stake in shares of Diamondback Energy during the 1st quarter valued at about $26,000. JPL Wealth Management LLC bought a new stake in shares of Diamondback Energy in the 3rd quarter valued at approximately $26,000. Wellington Shields & Co. LLC increased its holdings in Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 135 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Diamondback Energy in the second quarter worth approximately $28,000. Finally, Lloyd Advisory Services LLC. bought a new position in Diamondback Energy during the fourth quarter valued at approximately $31,000. 90.01% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have issued reports on FANG. Seaport Research Partners assumed coverage on shares of Diamondback Energy in a research note on Thursday. They issued a “neutral” rating for the company. Mizuho increased their price target on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Wolfe Research restated an “outperform” rating and set a $206.00 price target on shares of Diamondback Energy in a report on Tuesday, August 4th. Roth Capital set a $212.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Monday, June 22nd. Finally, UBS Group decreased their price objective 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. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $222.21.
Diamondback Energy Stock Up 0.1%
FANG opened at $203.42 on Thursday. The business has a 50 day moving average price of $194.21 and a 200 day moving average price of $191.41. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $216.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The firm has a market cap of $56.96 billion, a P/E ratio of 39.65 and a beta of 0.43.
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 (EPS) for the quarter, topping analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the business earned $2.38 earnings per share. The company’s revenue was up 51.2% on a year-over-year basis. Research analysts forecast that Diamondback Energy, Inc. will post 20.13 EPS for the current year.
Diamondback Energy Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a $1.10 dividend. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy’s dividend payout ratio (DPR) is presently 85.77%.
Insider Buying and Selling at Diamondback Energy
In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the sale, the director directly owned 13,437 shares in the company, valued at $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Alvin Meloy sold 83,334 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total value of $15,593,458.08. Following the completion of the sale, the director directly owned 851,530 shares in the company, valued at approximately $159,338,293.60. This represents a 8.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 117,167 shares of company stock worth $22,305,309 in the last quarter. Insiders own 0.64% of the company’s stock.
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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