CX Institutional Buys 1,128 Shares of Diamondback Energy, Inc. $FANG

CX Institutional raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 35.9% in the 2nd quarter, Holdings Channel reports. The firm owned 4,267 shares of the oil and natural gas company’s stock after acquiring an additional 1,128 shares during the period. CX Institutional’s holdings in Diamondback Energy were worth $586,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners increased its stake in Diamondback Energy by 4.8% during the first quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock worth $861,961,000 after acquiring an additional 249,098 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Diamondback Energy by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company’s stock valued at $680,649,000 after acquiring an additional 94,177 shares in the last quarter. Demars Financial Group LLC grew its position in shares of Diamondback Energy by 5.3% during the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company’s stock worth $655,953,000 after buying an additional 208,200 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Diamondback Energy by 4.1% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company’s stock worth $468,846,000 after acquiring an additional 114,930 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Diamondback Energy by 27.3% in the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock valued at $311,792,000 after purchasing an additional 418,431 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the sale, the chairman owned 102,145 shares of the company’s stock, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by insiders.

Analyst Ratings Changes

FANG has been the topic of several recent research reports. Susquehanna dropped their target price on Diamondback Energy from $192.00 to $188.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. William Blair initiated coverage on Diamondback Energy in a research note on Monday, August 25th. They set an “outperform” rating for the company. KeyCorp decreased their price objective on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. Morgan Stanley boosted their target price on shares of Diamondback Energy from $184.00 to $186.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Wall Street Zen downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $193.39.

Diamondback Energy Stock Down 0.7%

NASDAQ:FANG opened at $139.67 on Monday. The firm has a market capitalization of $40.43 billion, a P/E ratio of 9.93 and a beta of 1.15. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $200.47. The company’s fifty day moving average price is $142.33 and its 200-day moving average price is $141.77. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. Diamondback Energy’s revenue for the quarter was up 48.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.52 earnings per share. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.9%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 28.43%.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.