Impala Asset Management LLC Purchases 9,000 Shares of Diamondback Energy, Inc. $FANG

Impala Asset Management LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 90.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,000 shares of the oil and natural gas company’s stock after purchasing an additional 9,000 shares during the quarter. Diamondback Energy makes up approximately 1.9% of Impala Asset Management LLC’s investment portfolio, making the stock its 10th largest position. Impala Asset Management LLC’s holdings in Diamondback Energy were worth $3,340,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its holdings in Diamondback Energy by 16.3% in the 4th quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company’s stock valued at $50,890,000 after acquiring an additional 47,450 shares during the last quarter. Guinness Asset Management LTD boosted its holdings in shares of Diamondback Energy by 12.0% during the 4th quarter. Guinness Asset Management LTD now owns 54,132 shares of the oil and natural gas company’s stock worth $8,042,000 after purchasing an additional 5,816 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Diamondback Energy by 1,127.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,907 shares of the oil and natural gas company’s stock worth $4,045,000 after purchasing an additional 24,715 shares during the last quarter. Peterson Wealth Services grew its position in shares of Diamondback Energy by 174.2% in the fourth quarter. Peterson Wealth Services now owns 23,973 shares of the oil and natural gas company’s stock valued at $3,604,000 after purchasing an additional 15,229 shares in the last quarter. Finally, National Pension Service grew its position in shares of Diamondback Energy by 7.7% in the fourth quarter. National Pension Service now owns 381,710 shares of the oil and natural gas company’s stock valued at $57,382,000 after purchasing an additional 27,229 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on FANG. Roth Capital set a $212.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, June 22nd. Truist Financial raised their target price on Diamondback Energy from $220.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Zacks Research cut shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Morgan Stanley restated an “equal weight” rating and set a $216.00 price objective on shares of Diamondback Energy in a research report on Wednesday, August 19th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $222.21.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $200.52 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. The company has a market cap of $56.15 billion, a P/E ratio of 39.09 and a beta of 0.43. The stock has a 50-day moving average of $192.96 and a two-hundred day moving average of $190.44. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 earnings per share. As a group, analysts anticipate 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. Shareholders of record on Thursday, August 13th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy’s dividend payout ratio (DPR) is currently 85.77%.

Insider Buying and Selling at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 129,167 shares of company stock worth $24,714,309. 0.64% of the stock is currently owned by corporate 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.