Inceptionr LLC Takes $550,000 Position in Diamondback Energy, Inc. $FANG

Inceptionr LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,779 shares of the oil and natural gas company’s stock, valued at approximately $550,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cresset Asset Management LLC increased its holdings in Diamondback Energy by 37.5% in the second quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock valued at $649,000 after purchasing an additional 1,288 shares during the last quarter. Jump Financial LLC bought a new position in Diamondback Energy during the second quarter worth about $2,301,000. Cerity Partners LLC grew its position in shares of Diamondback Energy by 13.5% during the 2nd quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock worth $7,022,000 after buying an additional 6,069 shares during the period. AXA S.A. grew its position in shares of Diamondback Energy by 8.5% during the 2nd quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock worth $7,194,000 after buying an additional 4,103 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Diamondback Energy by 37.1% in the 2nd quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock valued at $21,239,000 after acquiring an additional 41,866 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

FANG opened at $204.68 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $214.51. The business has a 50 day moving average of $191.42 and a 200-day moving average of $182.57. The stock has a market cap of $57.58 billion, a price-to-earnings ratio of 238.00 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the company posted $4.54 EPS. Diamondback Energy’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy, Inc. will post 18.9 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a $1.10 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.1%. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s payout ratio is presently 511.63%.

Insider Buying and Selling

In related news, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the transaction, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 46,392 shares of the company’s stock, valued at $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 113,691 shares of company stock valued at $21,622,752 over the last 90 days. 0.64% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Scotiabank increased their target price on shares of Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Sanford C. Bernstein upped their price objective on shares of Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Barclays raised their price objective on Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Susquehanna lifted their target price on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a report on Tuesday. Finally, Citigroup decreased their target price on Diamondback Energy from $245.00 to $221.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $218.68.

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.