Diamondback Energy, Inc. $FANG is Impala Asset Management LLC’s 10th Largest Position

Impala Asset Management LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 90.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,000 shares of the oil and natural gas company’s stock after buying an additional 9,000 shares during the period. Diamondback Energy makes up 1.9% of Impala Asset Management LLC’s investment portfolio, making the stock its 10th largest holding. Impala Asset Management LLC’s holdings in Diamondback Energy were worth $3,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPL Wealth Management LLC acquired a new position in Diamondback Energy during the third quarter worth approximately $26,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $26,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at approximately $26,000. Wellington Shields & Co. LLC grew its position in shares of Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after acquiring an additional 135 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Diamondback Energy during the second quarter worth approximately $28,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FANG has been the subject of several research reports. Wall Street Zen upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research downgraded shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. 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. Barclays reduced their target price on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Finally, Wells Fargo & Company increased their target price on shares of Diamondback Energy from $262.00 to $263.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $222.21.

Diamondback Energy Stock Up 0.3%

Shares of NASDAQ:FANG opened at $200.52 on Friday. The company has a market cap of $56.15 billion, a price-to-earnings ratio of 39.09 and a beta of 0.43. The firm’s 50-day simple moving average is $192.96 and its 200-day simple moving average is $190.44. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $216.90.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly 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. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business’s revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.38 earnings per share. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were given a dividend of $1.10 per share. The ex-dividend date was Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.2%. Diamondback Energy’s payout ratio is presently 85.77%.

Insiders Place Their Bets

In other news, EVP Matt Zmigrosky sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 46,392 shares of the company’s stock, valued at $9,303,451.68. This trade represents a 9.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Teresa L. Dick sold 7,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 129,167 shares of company stock worth $24,714,309. Company 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.