Robinhood Asset Management LLC Makes New Investment in Diamondback Energy, Inc. $FANG

Robinhood Asset Management LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, Holdings Channel reports. The firm purchased 64,326 shares of the oil and natural gas company’s stock, valued at approximately $11,307,000.

Other large investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC bought a new position in Diamondback Energy in the first quarter valued at about $26,000. Meeder Asset Management Inc. bought a new stake in shares of Diamondback Energy during the second quarter worth about $28,000. Laurel Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the fourth quarter worth about $26,000. JPL Wealth Management LLC acquired a new position in shares of Diamondback Energy in the third quarter valued at approximately $26,000. Finally, Wellington Shields & Co. LLC increased its stake in shares of Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 135 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Charles Alvin Meloy sold 33,333 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the completion of the sale, the director directly owned 818,197 shares in the company, valued at $162,338,466.77. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy 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 transaction, the director directly owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This represents a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 129,167 shares of company stock valued at $24,714,309. 0.64% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $210.72 on Friday. The stock’s 50 day moving average is $191.79 and its 200 day moving average is $189.22. 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 firm has a market cap of $59.01 billion, a P/E ratio of 41.08 and a beta of 0.43. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $216.90.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating 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 business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the firm posted $2.38 EPS. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, research analysts expect that Diamondback Energy, Inc. will post 19.78 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy’s dividend payout ratio is currently 85.77%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Raymond James Financial reiterated a “strong-buy” rating and set a $248.00 target price on shares of Diamondback Energy in a research report on Friday, July 31st. Roth Capital set a $212.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Monday, June 22nd. Mizuho raised their price target on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Citigroup cut their price target on shares of Diamondback Energy from $221.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $216.00 price objective on shares of Diamondback Energy in a research note on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $222.21.

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.