Pendal Group Ltd bought a new position in shares of Diamondback Energy Inc (NASDAQ:FANG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,945 shares of the oil and natural gas company’s stock, valued at approximately $212,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Archford Capital Strategies LLC boosted its position in Diamondback Energy by 1,100.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 220 shares during the last quarter. Berman Capital Advisors LLC boosted its position in Diamondback Energy by 180.8% during the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock worth $29,000 after acquiring an additional 188 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Diamondback Energy during the 2nd quarter worth approximately $32,000. Manchester Capital Management LLC acquired a new position in Diamondback Energy during the 1st quarter worth approximately $34,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in Diamondback Energy during the 2nd quarter worth approximately $44,000. 99.48% of the stock is owned by institutional investors and hedge funds.
In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $107.47, for a total transaction of $161,205.00. Following the completion of the sale, the chief financial officer now owns 27,465 shares of the company’s stock, valued at approximately $2,951,663.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Russell Pantermuehl sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.28, for a total value of $536,400.00. Following the sale, the vice president now directly owns 112,107 shares of the company’s stock, valued at approximately $12,026,838.96. The disclosure for this sale can be found here. In the last three months, insiders sold 11,500 shares of company stock valued at $1,258,505. 0.47% of the stock is currently owned by insiders.
A number of research firms have weighed in on FANG. Raymond James raised Diamondback Energy from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, May 9th. MKM Partners began coverage on Diamondback Energy in a research report on Friday, June 28th. They set a “buy” rating for the company. Oppenheimer set a $151.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research report on Friday, August 9th. ValuEngine downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Co upped their price target on Diamondback Energy from $169.00 to $171.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $155.57.
NASDAQ FANG opened at $97.26 on Friday. The company has a market cap of $15.86 billion, a PE ratio of 16.57, a PEG ratio of 0.64 and a beta of 0.82. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. Diamondback Energy Inc has a 12 month low of $85.19 and a 12 month high of $140.78. The stock has a 50 day moving average of $102.56 and a 200-day moving average of $103.24.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.04). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The company’s quarterly revenue was up 93.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 EPS. As a group, sell-side analysts predict that Diamondback Energy Inc will post 7.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 16th will be issued a $0.188 dividend. This represents a $0.75 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Thursday, August 15th. Diamondback Energy’s payout ratio is presently 12.78%.
Diamondback Energy Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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