Y Intercept Hong Kong Ltd Acquires New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,824 shares of the oil and natural gas company’s stock, valued at approximately $292,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PFG Advisors increased its position in Diamondback Energy by 40.3% during the 1st quarter. PFG Advisors now owns 5,972 shares of the oil and natural gas company’s stock valued at $955,000 after purchasing an additional 1,715 shares during the period. Peterson Wealth Services increased its position in Diamondback Energy by 17.5% during the 1st quarter. Peterson Wealth Services now owns 25,262 shares of the oil and natural gas company’s stock valued at $4,039,000 after purchasing an additional 3,755 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in Diamondback Energy by 2.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 43,121 shares of the oil and natural gas company’s stock valued at $6,894,000 after purchasing an additional 1,222 shares during the period. IFP Advisors Inc increased its position in Diamondback Energy by 84.5% during the 1st quarter. IFP Advisors Inc now owns 9,324 shares of the oil and natural gas company’s stock valued at $1,491,000 after purchasing an additional 4,271 shares during the period. Finally, Copperwynd Financial LLC increased its position in Diamondback Energy by 9.3% during the 1st quarter. Copperwynd Financial LLC now owns 5,482 shares of the oil and natural gas company’s stock valued at $876,000 after purchasing an additional 467 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on FANG shares. Susquehanna cut their target price on shares of Diamondback Energy from $192.00 to $188.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada started coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They issued an “outperform” rating and a $180.00 price objective on the stock. KeyCorp cut their price objective on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Citigroup raised shares of Diamondback Energy from a “reduce” rating to a “buy” rating and lifted their price objective for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Finally, Bank of America lifted their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $191.59.

Diamondback Energy Stock Performance

FANG opened at $152.50 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. The firm has a fifty day moving average price of $142.15 and a 200 day moving average price of $147.54. The stock has a market cap of $44.56 billion, a P/E ratio of 9.33 and a beta of 1.05. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $203.98.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.87. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The firm’s revenue for the quarter was up 81.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.50 earnings per share. Equities research analysts anticipate 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, May 22nd. Shareholders of record on Thursday, May 15th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s dividend payout ratio is presently 24.46%.

Insiders Place Their Bets

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the completion of the sale, the president directly owned 120,645 shares in the company, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy 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.