S&CO Inc. Makes New $5.66 Million Investment in Diamondback Energy, Inc. $FANG

S&CO Inc. bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 32,200 shares of the oil and natural gas company’s stock, valued at approximately $5,660,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FANG. Deseret Mutual Benefit Administrators grew its holdings in shares of Diamondback Energy by 31.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock worth $41,000 after acquiring an additional 66 shares during the period. Scotia Capital Inc. lifted its holdings in Diamondback Energy by 0.3% in the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock valued at $2,822,000 after acquiring an additional 68 shares during the period. Capital Financial Group Inc. Co. ADV boosted its position in Diamondback Energy by 2.1% in the first quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock worth $709,000 after purchasing an additional 75 shares during the last quarter. Physician Wealth Advisors Inc. boosted its position in Diamondback Energy by 40.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 301 shares of the oil and natural gas company’s stock worth $45,000 after purchasing an additional 86 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in Diamondback Energy by 0.5% in the third quarter. Kestra Private Wealth Services LLC now owns 17,564 shares of the oil and natural gas company’s stock worth $2,513,000 after purchasing an additional 86 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

FANG has been the subject of several research reports. UBS Group reduced their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $205.00 price objective on shares of Diamondback Energy in a research note on Sunday, August 9th. Sanford C. Bernstein raised their price objective on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Wolfe Research restated an “outperform” rating and set a $206.00 target price on shares of Diamondback Energy in a research report on Tuesday, August 4th. Finally, Morgan Stanley reduced their target price on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $222.30.

Insider Buying and Selling

In related news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were 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 approximately $9,303,451.68. This represents a 9.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the sale, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 134,167 shares of company stock valued at $25,749,309. Insiders own 0.64% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ FANG opened at $202.47 on Friday. The business’s fifty day moving average is $190.31 and its 200 day moving average is $187.50. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The company has a market capitalization of $56.70 billion, a PE ratio of 39.47 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG) last issued 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 during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the business posted $2.38 earnings per share. The business’s quarterly revenue was up 51.2% on a year-over-year basis. Sell-side analysts predict that Diamondback Energy, Inc. will post 19.73 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be paid a dividend of $1.10 per share. The ex-dividend date is Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy’s payout ratio is 85.77%.

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.