Keebeck Wealth Management Invests $954,000 in Diamondback Energy, Inc. $FANG

Keebeck Wealth Management purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,427 shares of the oil and natural gas company’s stock, valued at approximately $954,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FANG. Keating Financial Advisory Services Inc. acquired a new position in Diamondback Energy during the second quarter worth about $42,000. Encore Global Management LP purchased a new position in Diamondback Energy in the second quarter valued at about $1,230,000. Allworth Financial LP acquired a new stake in shares of Diamondback Energy during the 2nd quarter valued at approximately $2,076,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Diamondback Energy during the 2nd quarter valued at approximately $3,108,000. Finally, LaSalle St. Investment Advisors LLC purchased a new stake in shares of Diamondback Energy during the 2nd quarter worth approximately $608,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

In other news, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the transaction, the executive vice president directly owned 46,392 shares of the company’s stock, valued at $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 completion of the transaction, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 129,167 shares of company stock worth $24,714,309 in the last 90 days. Corporate insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FANG shares. Weiss Ratings upgraded Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Wells Fargo & Company lifted their price objective on Diamondback Energy from $262.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Roth Capital set a $212.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, June 22nd. Zacks Research lowered Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Truist Financial upped their target price on Diamondback Energy from $220.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $222.21.

Diamondback Energy Stock Down 0.1%

Shares of NASDAQ FANG opened at $210.72 on Friday. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $216.90. The company has a market capitalization of $59.01 billion, a PE ratio of 41.08 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. The firm’s 50-day moving average is $191.79 and its two-hundred day moving average is $189.22.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating the consensus estimate of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the business earned $2.38 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. Equities analysts anticipate that Diamondback Energy, Inc. will post 19.78 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business 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 of this dividend was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. Diamondback Energy’s dividend payout ratio is presently 85.77%.

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.