Diamondback Energy, Inc. $FANG Shares Newly Purchased by USA Financial Formulas

USA Financial Formulas purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,205 shares of the oil and natural gas company’s stock, valued at approximately $1,141,000.

Several other institutional investors and hedge funds have also bought and sold shares of FANG. New England Research & Management Inc. purchased a new stake in Diamondback Energy in the third quarter worth about $395,000. Vontobel Holding Ltd. grew its holdings in shares of Diamondback Energy by 31.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 2,739 shares of the oil and natural gas company’s stock worth $503,000 after acquiring an additional 650 shares during the period. Wealth Intelligence LLC grew its holdings in shares of Diamondback Energy by 3.0% during the 3rd quarter. Wealth Intelligence LLC now owns 2,444 shares of the oil and natural gas company’s stock worth $449,000 after acquiring an additional 72 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Diamondback Energy by 11.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,651 shares of the oil and natural gas company’s stock worth $487,000 after acquiring an additional 267 shares during the period. Finally, Comprehensive Financial Consultants Institutional Inc. raised its position in shares of Diamondback Energy by 1.2% in the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 16,288 shares of the oil and natural gas company’s stock worth $2,994,000 after acquiring an additional 196 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FANG has been the subject of several research reports. Wolfe Research reissued an “outperform” rating and issued a $206.00 target price on shares of Diamondback Energy in a research report on Tuesday, August 4th. Scotiabank started coverage on Diamondback Energy in a research report on Wednesday. They set a “sector outperform” rating and a $250.00 price target on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $240.00 price target on shares of Diamondback Energy in a research report on Wednesday. Stephens reaffirmed an “outperform” rating on shares of Diamondback Energy in a research note on Tuesday. Finally, Weiss Ratings upgraded Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $226.71.

Insider Buying and Selling

In other news, Director Travis Stice sold 75,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $204.31, for a total transaction of $15,323,250.00. Following the completion of the transaction, the director directly owned 49,727 shares in the company, valued at approximately $10,159,723.37. This trade represents a 60.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Meloy sold 33,333 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $183.74, for a total value of $6,124,605.42. Following the completion of the sale, the director directly owned 759,864 shares in the company, valued at approximately $139,617,411.36. This represents a 4.20% 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 141,666 shares of company stock valued at $28,061,456 in the last ninety days. Insiders own 0.64% of the company’s stock.

Diamondback Energy Trading Up 4.3%

Shares of NASDAQ FANG opened at $203.95 on Friday. Diamondback Energy, Inc. has a 1 year low of $137.03 and a 1 year high of $216.90. The stock has a market cap of $57.11 billion, a P/E ratio of 39.76 and a beta of 0.55. The firm has a 50-day moving average of $197.24 and a 200 day moving average of $194.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. Diamondback Energy’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.38 earnings per share. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 21.07 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy’s dividend payout ratio (DPR) is currently 85.77%.

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company headquartered in Midland, Texas. The company focuses primarily on the acquisition, development, exploration and production of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico.

Diamondback’s operations are concentrated in the Midland and Delaware sub-basins, where it develops properties using horizontal drilling and hydraulic fracturing. Its production includes crude oil, natural gas and natural gas liquids.