21,241 Shares in Diamondback Energy, Inc. $FANG Acquired by Dupree Financial Group LLC

Key Points

• Dupree Financial Group LLC acquired 21,241 shares of Diamondback Energy, valued at approximately $2,919,000, marking a significant new investment in the company during the second quarter.
• Diamondback Energy reported a net margin of 27.25% and earnings of $2.67 per share, missing analysts' expectations but achieving a revenue growth of 48.1% year-over-year.
• The company recently announced a quarterly dividend of $1.00 per share, translating to an annualized dividend yield of 2.8%.

Dupree Financial Group LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 21,241 shares of the oil and natural gas company's stock, valued at approximately $2,919,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners grew its stake in Diamondback Energy by 4.8% during the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company's stock valued at $861,961,000 after purchasing an additional 249,098 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Diamondback Energy by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after purchasing an additional 94,177 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Diamondback Energy by 4.1% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company's stock valued at $468,846,000 after buying an additional 114,930 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Diamondback Energy by 27.3% during the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company's stock worth $311,792,000 after buying an additional 418,431 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Diamondback Energy during the first quarter worth approximately $230,039,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Travis D. Stice sold 20,400 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the sale, the chairman owned 102,145 shares in the company, valued at $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

Diamondback Energy Trading Up 1.5%

Shares of FANG stock opened at $141.19 on Tuesday. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $186.74. The firm has a market capitalization of $40.87 billion, a PE ratio of 10.03 and a beta of 1.04. The stock has a fifty day moving average of $142.26 and a two-hundred day moving average of $140.48. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the company posted $4.52 earnings per share. The company's revenue was up 48.1% on a year-over-year basis. As a group, research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, August 14th. Diamondback Energy's payout ratio is presently 28.43%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FANG. Morgan Stanley dropped their target price on shares of Diamondback Energy from $186.00 to $184.00 and set an "overweight" rating for the company in a research report on Tuesday, October 14th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Diamondback Energy in a research note on Wednesday, October 8th. Melius initiated coverage on Diamondback Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price objective for the company. Mizuho reduced their target price on Diamondback Energy from $183.00 to $176.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Finally, Barclays decreased their target price on Diamondback Energy from $185.00 to $178.00 and set an "overweight" rating for the company in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $189.91.

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.

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