Capital Analysts LLC raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2,148.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,799 shares of the oil and natural gas company’s stock after buying an additional 1,719 shares during the quarter. Capital Analysts LLC’s holdings in Diamondback Energy were worth $132,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concord Wealth Partners grew its holdings in Diamondback Energy by 31.4% during the 1st quarter. Concord Wealth Partners now owns 2,984 shares of the oil and natural gas company’s stock valued at $219,000 after buying an additional 713 shares in the last quarter. Alpha Paradigm Partners LLC purchased a new position in Diamondback Energy during the 1st quarter valued at approximately $7,971,000. Virginia Retirement Systems ET AL purchased a new position in Diamondback Energy during the 1st quarter valued at approximately $1,146,000. Worldquant Millennium Advisors LLC purchased a new position in shares of Diamondback Energy in the 4th quarter worth approximately $1,674,000. Finally, WBI Investments purchased a new position in shares of Diamondback Energy in the 1st quarter worth approximately $5,489,000. Institutional investors and hedge funds own 88.74% of the company’s stock.
In related news, CAO Teresa L. Dick sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $89.50, for a total transaction of $447,500.00. Following the transaction, the chief accounting officer now directly owns 62,985 shares in the company, valued at approximately $5,637,157.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Travis D. Stice sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $85.00, for a total value of $1,700,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,100 shares of company stock worth $5,646,258. 0.47% of the stock is owned by company insiders.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Sunday, May 2nd. The oil and natural gas company reported $2.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.57. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $864.18 million. Diamondback Energy had a positive return on equity of 5.73% and a negative net margin of 129.92%. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 EPS. On average, research analysts forecast that Diamondback Energy, Inc. will post 9.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 20th. Investors of record on Thursday, May 13th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, May 12th. This represents a $1.60 annualized dividend and a yield of 2.02%. Diamondback Energy’s dividend payout ratio (DPR) is 52.63%.
FANG has been the subject of a number of recent research reports. Scotiabank upgraded Diamondback Energy from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $86.00 to $95.00 in a report on Friday, May 21st. Credit Suisse Group lifted their target price on Diamondback Energy from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, May 4th. Mizuho lifted their target price on Diamondback Energy from $120.00 to $131.00 and gave the stock a “buy” rating in a report on Thursday, July 15th. Capital One Financial reiterated an “overweight” rating on shares of Diamondback Energy in a report on Wednesday, May 26th. Finally, Morgan Stanley dropped their target price on Diamondback Energy from $117.00 to $114.00 and set an “overweight” rating for the company in a report on Monday. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Diamondback Energy currently has an average rating of “Buy” and an average target price of $95.12.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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