Leeward Investments LLC MA Raises Stock Position in Diamondback Energy, Inc. $FANG

Leeward Investments LLC MA boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 15.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 63,208 shares of the oil and natural gas company’s stock after purchasing an additional 8,412 shares during the period. Leeward Investments LLC MA’s holdings in Diamondback Energy were worth $8,685,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its position in Diamondback Energy by 20.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,551 shares of the oil and natural gas company’s stock valued at $5,044,000 after purchasing an additional 5,371 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Diamondback Energy by 2,130.0% during the first quarter. Golden State Wealth Management LLC now owns 223 shares of the oil and natural gas company’s stock valued at $36,000 after purchasing an additional 213 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Diamondback Energy by 4.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company’s stock valued at $5,784,000 after purchasing an additional 1,384 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Diamondback Energy during the first quarter valued at approximately $5,093,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Diamondback Energy by 5.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,688 shares of the oil and natural gas company’s stock valued at $15,232,000 after purchasing an additional 5,250 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FANG shares. Morgan Stanley lowered their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Melius started coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price objective for the company. Mizuho lowered their price objective on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Wall Street Zen lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Evercore ISI boosted their price objective on shares of Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $189.91.

Diamondback Energy Stock Down 0.9%

Shares of NASDAQ FANG opened at $145.86 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $186.07. The firm’s fifty day moving average is $142.61 and its 200 day moving average is $140.99. The company has a market cap of $42.23 billion, a price-to-earnings ratio of 10.37 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG) last issued its 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). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the firm earned $4.52 earnings per share. The firm’s quarterly revenue was up 48.1% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

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

Insider Transactions at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction dated 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 sale, the chairman directly owned 102,145 shares of the company’s stock, valued at $14,586,306. This represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Diamondback Energy Company 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.