Diamondback Energy, Inc. $FANG Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 131.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 539,137 shares of the oil and natural gas company’s stock after buying an additional 306,172 shares during the quarter. Van ECK Associates Corp owned approximately 0.19% of Diamondback Energy worth $94,770,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Transamerica Financial Advisors LLC raised its stake in Diamondback Energy by 21.0% during the second quarter. Transamerica Financial Advisors LLC now owns 294 shares of the oil and natural gas company’s stock worth $52,000 after acquiring an additional 51 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in Diamondback Energy by 31.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock valued at $41,000 after acquiring an additional 66 shares during the period. Scotia Capital Inc. grew its holdings in shares of 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 valued at $2,822,000 after purchasing an additional 68 shares during the last quarter. Capital Financial Group Inc. Co. ADV grew its holdings in shares of 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. Finally, Kestra Private Wealth Services LLC raised its position in shares of Diamondback Energy by 0.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,564 shares of the oil and natural gas company’s stock worth $2,513,000 after purchasing an additional 86 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was 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 directly 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 transaction 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 stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $198.41, for a total value of $6,613,600.53. Following the transaction, the director directly owned 818,197 shares of the company’s stock, valued at approximately $162,338,466.77. The trade was a 3.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 129,167 shares of company stock valued at $24,714,309 over the last quarter. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FANG. Wolfe Research reissued an “outperform” rating and issued a $206.00 price target on shares of Diamondback Energy in a report on Tuesday, August 4th. Sanford C. Bernstein upped their price objective on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen raised Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Roth Capital set a $212.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a report on Monday, June 22nd. Finally, Mizuho increased their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.21.

Diamondback Energy Stock Down 1.4%

FANG opened at $197.67 on Friday. The stock’s 50 day moving average price is $193.25 and its 200 day moving average price is $190.49. 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 stock has a market cap of $55.35 billion, a P/E ratio of 38.53 and a beta of 0.43. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $216.90.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the business posted $2.38 earnings per share. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, research analysts predict that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.2%. Diamondback Energy’s dividend payout ratio (DPR) is presently 85.77%.

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.