Moore Capital Management LP Purchases Shares of 31,000 Diamondback Energy, Inc. $FANG

Moore Capital Management LP bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 31,000 shares of the oil and natural gas company’s stock, valued at approximately $5,449,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Laurel Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth about $26,000. Cedar Mountain Advisors LLC purchased a new position in Diamondback Energy during the 1st quarter valued at approximately $26,000. JPL Wealth Management LLC bought a new stake in Diamondback Energy in the 3rd quarter worth approximately $26,000. Wellington Shields & Co. LLC increased its stake in Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after acquiring an additional 135 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Diamondback Energy during the 2nd quarter worth approximately $28,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $197.67 on Monday. The company’s fifty day simple moving average is $193.25 and its 200-day simple moving average is $190.66. The company has a market cap of $55.35 billion, a P/E ratio of 38.53 and a beta of 0.43. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $216.90.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating the consensus estimate of $6.08 by $0.40. The company had revenue of $5.56 billion for 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 firm’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.38 EPS. As a group, analysts expect that Diamondback Energy, Inc. will post 20.13 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Thursday, August 13th. Diamondback Energy’s dividend payout ratio is presently 85.77%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FANG. Raymond James Financial restated a “strong-buy” rating and issued a $248.00 price target on shares of Diamondback Energy in a research report on Friday, July 31st. Wall Street Zen upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Mizuho increased their price target on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Barclays dropped their price target on Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Finally, Truist Financial upped their price objective on Diamondback Energy from $220.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Four 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $222.21.

Insider Buying and Selling

In related news, Director Charles Alvin Meloy sold 33,333 shares of the business’s stock in a transaction on 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 transaction, the director owned 818,197 shares in the company, valued at $162,338,466.77. The trade was a 3.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the transaction, the director directly owned 13,437 shares in the company, valued at $2,640,370.50. This trade represents a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 124,167 shares of company stock valued at $23,711,609. Insiders own 0.64% of the company’s stock.

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.