Odyssean LLC Makes New Investment in Diamondback Energy, Inc. $FANG

Odyssean LLC bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,867 shares of the oil and natural gas company’s stock, valued at approximately $856,000.

Other large investors have also modified their holdings of the company. Cresset Asset Management LLC boosted its holdings in Diamondback Energy by 37.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock worth $649,000 after acquiring an additional 1,288 shares during the period. Jump Financial LLC purchased a new stake in shares of Diamondback Energy during the second quarter valued at approximately $2,301,000. Cerity Partners LLC lifted its position in shares of Diamondback Energy by 13.5% during the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock worth $7,022,000 after purchasing an additional 6,069 shares in the last quarter. AXA S.A. lifted its position in shares of Diamondback Energy by 8.5% during the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock worth $7,194,000 after purchasing an additional 4,103 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Diamondback Energy by 37.1% during the second quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock worth $21,239,000 after purchasing an additional 41,866 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.0%

FANG stock opened at $199.84 on Thursday. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $216.90. 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 company has a market capitalization of $55.96 billion, a P/E ratio of 38.96 and a beta of 0.43. The firm has a 50 day simple moving average of $192.62 and a 200-day simple moving average of $190.20.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.08 by $0.40. The firm 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 firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.38 earnings per share. On average, equities research analysts predict that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were given a $1.10 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. Diamondback Energy’s payout ratio is presently 85.77%.

Insider Activity at Diamondback Energy

In other news, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 129,167 shares of company stock worth $24,714,309 over the last quarter. Company insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group lowered their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Wolfe Research reiterated an “outperform” rating and issued a $206.00 price objective on shares of Diamondback Energy in a report on Tuesday, August 4th. Wall Street Zen raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Finally, Susquehanna lifted their target price on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a research report on Tuesday, July 21st. Four investment 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’s stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.21.

Diamondback Energy 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.