Crown Advisors Management Inc. Makes New Investment in Diamondback Energy, Inc. $FANG

Crown Advisors Management Inc. bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,000 shares of the oil and natural gas company’s stock, valued at approximately $4,394,000. Diamondback Energy accounts for 2.4% of Crown Advisors Management Inc.’s investment portfolio, making the stock its 13th biggest position.

Several other large investors have also modified their holdings of the business. OneDigital Investment Advisors LLC purchased a new position in shares of Diamondback Energy during the 2nd quarter worth $931,000. Insight Wealth Partners LLC purchased a new stake in Diamondback Energy in the 2nd quarter valued at about $1,665,000. Uniting Wealth Partners LLC purchased a new stake in Diamondback Energy in the 2nd quarter valued at about $223,000. Trivium Point Advisory LLC acquired a new position in Diamondback Energy in the second quarter valued at about $4,814,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Diamondback Energy in the second quarter valued at about $53,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of several research analyst reports. Scotiabank increased their target price on shares of Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Wolfe Research reissued an “outperform” rating and issued a $206.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 4th. Susquehanna upped their price objective on shares of Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Roth Capital set a $212.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, Barclays increased their price objective on shares of Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Diamondback Energy has an average rating of “Buy” and an average target price of $222.30.

Diamondback Energy Price Performance

FANG opened at $202.47 on Monday. The stock’s 50-day moving average price is $190.31 and its 200 day moving average price is $187.74. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $214.51. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The firm has a market cap of $56.70 billion, a price-to-earnings ratio of 39.47 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.Diamondback Energy’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the business posted $2.38 EPS. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 19.73 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 13th. Diamondback Energy’s dividend payout ratio is currently 85.77%.

Insider Buying and Selling at Diamondback Energy

In related news, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the sale, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This represents a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 46,392 shares in the company, valued at approximately $9,303,451.68. This trade represents a 9.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 134,167 shares of company stock worth $25,749,309. 0.64% of the stock is owned by company insiders.

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.