Trivium Point Advisory LLC Makes New $4.81 Million Investment in Diamondback Energy, Inc. $FANG

Trivium Point Advisory LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, Holdings Channel.com reports. The firm acquired 27,389 shares of the oil and natural gas company’s stock, valued at approximately $4,814,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FANG. Laurel Wealth Advisors LLC bought a new stake in Diamondback Energy in the fourth quarter worth approximately $26,000. Cedar Mountain Advisors LLC bought a new position in shares of Diamondback Energy during the 1st quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new position in shares of Diamondback Energy during the 3rd quarter valued at $26,000. Wellington Shields & Co. LLC lifted its position in shares of Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after acquiring an additional 135 shares during the period. Finally, Lloyd Advisory Services LLC. bought a new position in Diamondback Energy during the fourth quarter worth $31,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $202.47 on Monday. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $214.51. 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 stock has a 50 day moving average price of $190.31 and a two-hundred day moving average price of $187.74. The firm has a market capitalization of $56.70 billion, a P/E ratio of 39.47 and a beta of 0.43.

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, beating the consensus estimate of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The company had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the firm earned $2.38 earnings per share. Diamondback Energy’s quarterly revenue was up 51.2% on a year-over-year basis. Equities analysts forecast that Diamondback Energy, Inc. will post 19.73 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 13th. Diamondback Energy’s payout ratio is currently 85.77%.

Insider Activity

In other news, 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 value of $1,002,700.00. Following the completion of the sale, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. This represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles Alvin Meloy sold 33,333 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was 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 of the company’s stock, valued at $162,338,466.77. The trade was a 3.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 134,167 shares of company stock worth $25,749,309. 0.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Raymond James Financial restated a “strong-buy” rating and issued a $248.00 price target on shares of Diamondback Energy in a report on Friday, July 31st. Roth Capital set a $212.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, June 22nd. Scotiabank raised their target price on Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Sanford C. Bernstein boosted 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. Finally, Zacks Research downgraded Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Four equities 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’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $222.30.

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.