Korea Investment CORP Makes New $21.99 Million Investment in Diamondback Energy, Inc. $FANG

Korea Investment CORP purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 125,089 shares of the oil and natural gas company’s stock, valued at approximately $21,988,000.

A number of other hedge funds have also made changes to their positions in FANG. Deseret Mutual Benefit Administrators lifted its holdings in Diamondback Energy by 31.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock worth $41,000 after purchasing an additional 66 shares during the last quarter. Scotia Capital Inc. boosted its position in Diamondback Energy by 0.3% during the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after purchasing an additional 68 shares during the period. Capital Financial Group Inc. Co. ADV grew its holdings in Diamondback Energy by 2.1% during the first quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock valued at $709,000 after purchasing an additional 75 shares during the last quarter. Physician Wealth Advisors Inc. grew its holdings in Diamondback Energy by 40.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 301 shares of the oil and natural gas company’s stock valued at $45,000 after purchasing an additional 86 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in shares of 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 valued at $2,513,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $210.72 on Monday. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $216.90. The company has a market cap of $59.01 billion, a P/E ratio of 41.08 and a beta of 0.43. The business’s 50 day moving average is $191.79 and its two-hundred day moving average is $189.44. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25.

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 for the quarter, beating the consensus estimate of $6.08 by $0.40. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.Diamondback Energy’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.38 earnings per share. On average, equities analysts expect that Diamondback Energy, Inc. will post 20.13 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.1%. The ex-dividend date was Thursday, August 13th. Diamondback Energy’s dividend payout ratio is presently 85.77%.

Insider Activity at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the transaction, the director owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the sale, the executive vice president owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. The trade was a 9.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 129,167 shares of company stock valued at $24,714,309 in the last quarter. Company insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Jefferies Financial Group restated a “hold” rating and issued a $205.00 price objective on shares of Diamondback Energy in a research note on Sunday, August 9th. Wells Fargo & Company raised their target price on shares of Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Zacks Research downgraded shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings raised shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Finally, UBS Group cut their target price 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. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $222.21.

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.