Diamondback Energy, Inc. $FANG Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 26.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,615 shares of the oil and natural gas company’s stock after acquiring an additional 1,159 shares during the period. HB Wealth Management LLC’s holdings in Diamondback Energy were worth $772,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its stake in Diamondback Energy by 4.0% during the 1st 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 buying an additional 1,384 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Diamondback Energy by 6.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company’s stock valued at $9,409,000 after buying an additional 3,467 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Diamondback Energy by 50.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company’s stock valued at $1,143,000 after buying an additional 2,397 shares during the period. True North Advisors LLC acquired a new position in Diamondback Energy during the 1st quarter valued at about $327,000. Finally, Wealth Advisory Solutions LLC acquired a new position in Diamondback Energy during the 1st quarter valued at about $2,631,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 3.0%

NASDAQ:FANG opened at $147.47 on Friday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $200.47. The firm has a market cap of $42.69 billion, a price-to-earnings ratio of 10.48 and a beta of 1.04. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $142.86 and its 200-day moving average is $141.52.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.05). The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The company’s revenue was up 48.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.52 EPS. Equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s payout ratio is currently 28.43%.

Insiders Place Their Bets

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the sale, the chairman directly owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. The trade was a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FANG. Mizuho lowered their target price on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. UBS Group raised their target price on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Melius began coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 target price on the stock. Raymond James Financial lowered their target price on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, August 20th. Finally, Morgan Stanley raised their price objective on shares of Diamondback Energy from $184.00 to $186.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Buy” and a consensus price target of $192.41.

About Diamondback Energy

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.