Emerald Investment Advisers LLC Invests $7.87 Million in Diamondback Energy, Inc. $FANG

Emerald Investment Advisers LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 44,785 shares of the oil and natural gas company’s stock, valued at approximately $7,872,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cresset Asset Management LLC raised its stake in shares of Diamondback Energy by 37.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock valued at $649,000 after acquiring an additional 1,288 shares during the period. Jump Financial LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter worth approximately $2,301,000. Cerity Partners LLC boosted 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 purchasing an additional 6,069 shares during the period. AXA S.A. boosted 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 purchasing an additional 4,103 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Diamondback Energy by 37.1% during the 2nd quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock worth $21,239,000 after purchasing an additional 41,866 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

Shares of FANG opened at $210.72 on Friday. The company 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 fifty-two week low of $134.30 and a fifty-two week high of $216.90. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average price is $191.79 and its 200 day moving average price is $189.22.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, topping the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.38 earnings per share. On average, research analysts forecast that Diamondback Energy, Inc. will post 19.78 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business 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 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, August 13th. Diamondback Energy’s dividend payout ratio (DPR) is presently 85.77%.

Insider Activity

In other news, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the sale, the chief accounting officer directly owned 85,755 shares in the company, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the transaction, 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 have sold a total of 129,167 shares of company stock valued at $24,714,309 over the last three months. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FANG shares. Zacks Research lowered Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Roth Capital set a $212.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, June 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $248.00 price objective on shares of Diamondback Energy in a research note on Friday, July 31st. Wells Fargo & Company boosted their price objective on Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Citigroup cut their price objective on Diamondback Energy from $221.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.