UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $237.83 Million Stake in Diamondback Energy, Inc. $FANG

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 42.3% in the second quarter, Holdings Channel reports. The fund owned 1,353,016 shares of the oil and natural gas company’s stock after purchasing an additional 402,004 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Diamondback Energy were worth $237,833,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Diamondback Energy in the 2nd quarter valued at $3,303,362,000. Bank of New York Mellon Corp bought a new stake in Diamondback Energy during the 2nd quarter worth $852,791,000. Wellington Management Group LLP grew its position in Diamondback Energy by 31.3% during the 2nd quarter. Wellington Management Group LLP now owns 16,420,247 shares of the oil and natural gas company’s stock worth $2,886,351,000 after acquiring an additional 3,918,943 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Diamondback Energy during the 2nd quarter worth $268,855,000. Finally, EnCap Energy Capital Fund XII L.P. acquired a new position in Diamondback Energy in the 4th quarter worth about $169,342,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Roth Capital set a $212.00 target price on Diamondback Energy and gave the company a “buy” rating in a research report on Monday, June 22nd. Jefferies Financial Group restated a “hold” rating and set a $205.00 price target on shares of Diamondback Energy in a report on Sunday, August 9th. Weiss Ratings upgraded shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Mizuho boosted their target price 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. Finally, Citigroup decreased their price target on shares of Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, August 10th. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $222.21.

Diamondback Energy Trading Up 1.4%

NASDAQ FANG opened at $200.48 on Tuesday. The firm has a market capitalization of $56.14 billion, a PE ratio of 39.08 and a beta of 0.43. The business’s 50-day moving average price is $193.50 and its two-hundred day moving average price is $190.92. 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 12 month low of $134.30 and a 12 month high of $216.90.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.89 billion. During the same period last year, the company earned $2.38 earnings per share. The firm’s revenue was up 51.2% compared to the same quarter last year. On average, analysts expect that Diamondback Energy, Inc. will post 20.13 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a dividend of $1.10 per share. The ex-dividend date 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%.

Insider Buying and Selling

In other Diamondback Energy news, 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 transaction of $98,250.00. Following the sale, the director owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles Alvin Meloy sold 83,334 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the sale, the director owned 851,530 shares of the company’s stock, valued at approximately $159,338,293.60. The trade was a 8.91% 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. Insiders sold a total of 117,167 shares of company stock worth $22,305,309 in the last 90 days. Corporate insiders own 0.64% of the company’s stock.

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.