Teamwork Financial Advisors LLC Has $2.23 Million Position in Diamondback Energy, Inc. $FANG

Teamwork Financial Advisors LLC cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 23.5% in the second quarter, Holdings Channel reports. The fund owned 12,674 shares of the oil and natural gas company’s stock after selling 3,893 shares during the period. Teamwork Financial Advisors LLC’s holdings in Diamondback Energy were worth $2,228,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FANG. Boston Partners grew its holdings in shares of Diamondback Energy by 2.9% in the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after purchasing an additional 163,548 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Diamondback Energy by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after purchasing an additional 14,625 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Diamondback Energy by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after purchasing an additional 532,756 shares during the last quarter. Capital Research Global Investors lifted its holdings in Diamondback Energy by 14.1% during the 4th quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after purchasing an additional 534,073 shares during the last quarter. Finally, Morgan Stanley boosted its position in Diamondback Energy by 3.2% in the fourth quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company’s stock valued at $575,605,000 after buying an additional 117,798 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Down 0.8%

FANG opened at $188.04 on Friday. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51. The stock has a market capitalization of $52.90 billion, a PE ratio of 36.65 and a beta of 0.43. The company has a current ratio of 0.47, a quick ratio of 0.55 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $190.39 and a two-hundred day moving average price of $185.79.

Diamondback Energy (NASDAQ:FANG) last announced its 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. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the business earned $2.38 earnings per share. Diamondback Energy’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 19.22 earnings per share for the current fiscal 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 given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, August 13th. Diamondback Energy’s payout ratio is 85.77%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Weiss Ratings raised shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Susquehanna boosted their target price on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Morgan Stanley reduced their target price on Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Zacks Research lowered Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Barclays raised their price target on Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $220.75.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the sale, the director owned 13,437 shares in the company, valued at $2,640,370.50. The trade was a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 46,392 shares in the company, valued at $9,303,451.68. This trade represents a 9.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 139,167 shares of company stock worth $26,749,809 in the last quarter. 0.64% of the stock is owned by corporate insiders.

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.