OneDigital Investment Advisors LLC Takes Position in Diamondback Energy, Inc. $FANG

OneDigital Investment Advisors LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,297 shares of the oil and natural gas company’s stock, valued at approximately $931,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FANG. Laurel Wealth Advisors LLC purchased a new stake in Diamondback Energy in the fourth quarter valued at about $26,000. Cedar Mountain Advisors LLC acquired a new stake in Diamondback Energy in the 1st quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new stake in Diamondback Energy in the 3rd quarter worth approximately $26,000. Wellington Shields & Co. LLC grew its position in Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after purchasing an additional 135 shares during the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new stake in Diamondback Energy during the 4th quarter worth approximately $31,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

Shares of FANG opened at $206.29 on Tuesday. The business’s 50-day moving average is $190.47 and its two-hundred day moving average is $188.07. The company has a market capitalization of $57.77 billion, a P/E ratio of 40.21 and a beta of 0.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data 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. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The business had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the firm posted $2.38 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. Research analysts predict that Diamondback Energy, Inc. will post 19.73 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. Diamondback Energy’s dividend payout ratio (DPR) is presently 85.77%.

Insider Activity

In other news, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 46,392 shares of the company’s stock, valued at $9,303,451.68. The trade was a 9.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Alvin Meloy sold 33,333 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the completion of the transaction, the director owned 818,197 shares of the company’s stock, valued at approximately $162,338,466.77. This represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 129,167 shares of company stock worth $24,714,309 over the last 90 days. Company insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FANG shares. Morgan Stanley cut their price target on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Wells Fargo & Company boosted their price objective on shares of Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Raymond James Financial reissued a “strong-buy” rating and issued a $248.00 target price on shares of Diamondback Energy in a research report on Friday, July 31st. Scotiabank raised their target price on Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen raised Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $221.75.

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.