Syon Capital LLC Acquires 2,971 Shares of Diamondback Energy, Inc. $FANG

Syon Capital LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 131.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,228 shares of the oil and natural gas company’s stock after acquiring an additional 2,971 shares during the quarter. Syon Capital LLC’s holdings in Diamondback Energy were worth $919,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FANG. JPL Wealth Management LLC acquired a new position in Diamondback Energy in the 3rd quarter valued at $26,000. Cedar Mountain Advisors LLC acquired a new stake in Diamondback Energy during the first quarter worth about $26,000. Wellington Shields & Co. LLC boosted 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 worth $28,000 after acquiring an additional 135 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at $28,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in Diamondback Energy in the fourth quarter valued at about $31,000. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles Meloy sold 83,334 shares of Diamondback Energy stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the transaction, the director owned 851,530 shares of the company’s stock, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 117,167 shares of company stock valued at $22,305,309 over the last three months. Insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Roth Capital set a $212.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, June 22nd. Susquehanna upped their target price on Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Citigroup decreased their price target on Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a report on Monday, August 10th. Wolfe Research reaffirmed an “outperform” rating and set a $206.00 price objective on shares of Diamondback Energy in a research report on Tuesday, August 4th. Finally, Barclays reduced their target price on Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $222.21.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $199.22 on Monday. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $216.90. 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 company has a fifty day moving average price of $195.00 and a 200-day moving average price of $191.86. The firm has a market cap of $55.79 billion, a price-to-earnings ratio of 38.83 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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. The firm had revenue of $5.56 billion during 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 company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the business posted $2.38 EPS. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 20.14 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors 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 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.