D.A. Davidson & CO. Acquires 3,294 Shares of Diamondback Energy, Inc. $FANG

D.A. Davidson & CO. increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 14.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,911 shares of the oil and natural gas company’s stock after purchasing an additional 3,294 shares during the quarter. D.A. Davidson & CO.’s holdings in Diamondback Energy were worth $3,560,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BankPlus Trust Department bought a new stake in shares of Diamondback Energy in the first quarter worth $27,000. SouthState Corp lifted its holdings in Diamondback Energy by 596.4% in the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 167 shares during the period. WASHINGTON TRUST Co lifted its holdings in Diamondback Energy by 119.8% in the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock valued at $32,000 after buying an additional 109 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in Diamondback Energy in the first quarter valued at $33,000. Finally, Catalyst Capital Advisors LLC lifted its holdings in Diamondback Energy by 60.9% in the first quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company’s stock valued at $35,000 after buying an additional 84 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Diamondback Energy in a report on Friday. Piper Sandler dropped their target price on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Melius Research started coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price on the stock. UBS Group upped their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Susquehanna dropped their price objective on shares of Diamondback Energy to $188.00 and set a “positive” rating on the stock in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Diamondback Energy has an average rating of “Buy” and a consensus target price of $189.91.

Insider Buying and Selling at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares in the company, 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 the SEC website. Company insiders own 0.70% of the company’s stock.

Diamondback Energy Trading Down 0.9%

NASDAQ:FANG opened at $145.86 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The company has a market cap of $42.23 billion, a PE ratio of 10.37 and a beta of 1.04. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $186.07. The firm has a 50-day moving average of $142.61 and a 200-day moving average of $140.84.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter last year, the business posted $4.52 EPS. The company’s quarterly revenue was up 48.1% on a year-over-year basis. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, August 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. Diamondback Energy’s dividend payout ratio (DPR) is 28.43%.

About Diamondback Energy

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.