Man Group plc Takes $18.05 Million Position in Diamondback Energy, Inc. $FANG

Man Group plc acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, Holdings Channel.com reports. The fund acquired 102,714 shares of the oil and natural gas company’s stock, valued at approximately $18,055,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new stake in Diamondback Energy during the third quarter valued at about $26,000. Laurel Wealth Advisors LLC bought a new stake in Diamondback Energy during the fourth quarter worth about $26,000. Cedar Mountain Advisors LLC purchased a new position in shares of Diamondback Energy in the 1st quarter worth about $26,000. Wellington Shields & Co. LLC increased its position in shares of 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 valued at $28,000 after purchasing an additional 135 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Diamondback Energy during the 2nd quarter valued at about $28,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Trading Up 0.3%

Shares of FANG stock opened at $200.52 on Friday. The business has a 50-day moving average of $192.96 and a 200 day moving average of $190.44. 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 1-year low of $134.30 and a 1-year high of $216.90. The stock has a market capitalization of $56.15 billion, a PE ratio of 39.09 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 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 business had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the firm earned $2.38 EPS. The business’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Dividend Announcement

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. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy’s payout ratio is presently 85.77%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FANG shares. Susquehanna boosted their target price on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a research report on Tuesday, July 21st. Truist Financial lifted their price target on shares of Diamondback Energy from $220.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Roth Capital set a $212.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Monday, June 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $248.00 price objective on shares of Diamondback Energy in a research note on Friday, July 31st. Finally, Wall Street Zen raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Four 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.21.

Insider Activity

In related news, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the sale, the chief accounting officer directly owned 85,755 shares in the company, valued at $17,228,179.50. This represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the sale, the director directly owned 13,437 shares of the company’s stock, valued at $2,640,370.50. The trade was a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 129,167 shares of company stock valued at $24,714,309 in the last three months. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Company Profile

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.