Wilkinson Global Asset Management LLC Purchases New Position in Diamondback Energy, Inc. $FANG

Wilkinson Global Asset Management LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,750 shares of the oil and natural gas company’s stock, valued at approximately $659,000.

Several other hedge funds have also bought and sold shares of FANG. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the 4th quarter valued at approximately $26,000. Cedar Mountain Advisors LLC acquired a new position in shares of Diamondback Energy in the 1st quarter valued at $26,000. JPL Wealth Management LLC purchased a new stake in Diamondback Energy during the third quarter worth $26,000. Wellington Shields & Co. LLC boosted its holdings in Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 135 shares in the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new stake in Diamondback Energy during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $202.47 on Monday. 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 firm has a fifty day moving average of $190.31 and a 200 day moving average of $187.74. The firm has a market cap of $56.70 billion, a PE ratio of 39.47 and a beta of 0.43. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the firm posted $2.38 earnings per share. The company’s revenue was up 51.2% compared to the same quarter last year. As a group, research analysts predict that Diamondback Energy, Inc. will post 19.73 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

Wall Street Analyst Weigh In

FANG has been the subject of a number of recent analyst reports. Zacks Research cut shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Citigroup lowered their target price on shares of Diamondback Energy from $221.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Sanford C. Bernstein raised their target price on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Truist Financial raised their target price on Diamondback Energy from $220.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company lifted their price target on Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $222.30.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction that occurred 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 directly owned 13,437 shares in the company, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles Alvin Meloy sold 83,334 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the sale, the director owned 851,530 shares of the company’s stock, valued at approximately $159,338,293.60. This trade represents a 8.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 134,167 shares of company stock valued at $25,749,309. 0.64% of the stock is owned by corporate insiders.

Diamondback Energy 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.