Ground Swell Capital LLC Invests $384,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• Ground Swell Capital LLC acquired 2,403 shares of Diamondback Energy, valued at approximately $384,000, marking a new position in the company during the first quarter.
• Multiple institutional investors have increased their stakes in Diamondback Energy, with 90.01% of the company’s stock currently owned by these investors.
• Diamondback Energy announced a quarterly dividend of $1.00 per share, equivalent to a yield of 2.9%, which is set to be paid to investors of record on August 14th.

Ground Swell Capital LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,403 shares of the oil and natural gas company's stock, valued at approximately $384,000.

Several other institutional investors have also recently made changes to their positions in FANG. Robeco Institutional Asset Management B.V. raised 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 purchasing an additional 1,384 shares during the period. Oppenheimer Asset Management Inc. raised 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 purchasing an additional 3,467 shares during the period. China Universal Asset Management Co. Ltd. raised 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 purchasing an additional 2,397 shares during the period. True North Advisors LLC bought a new stake in Diamondback Energy during the 1st quarter valued at approximately $327,000. Finally, Wealth Advisory Solutions LLC bought a new stake in Diamondback Energy during the 1st quarter valued at approximately $2,631,000. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Trading Down 0.4%

Shares of FANG stock traded down $0.55 on Friday, reaching $140.22. 1,889,655 shares of the company's stock were exchanged, compared to its average volume of 2,092,406. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $40.59 billion, a PE ratio of 9.97 and a beta of 1.09. The company's fifty day simple moving average is $143.65 and its 200 day simple moving average is $144.58.

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 (EPS) 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 business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the business posted $4.52 earnings per share. Diamondback Energy's revenue was up 48.1% on a year-over-year basis. As a group, analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. Diamondback Energy's payout ratio is 28.43%.

Analyst Ratings Changes

FANG has been the topic of several recent analyst reports. Mizuho decreased their target price on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley restated an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, July 15th. JPMorgan Chase & Co. cut their price target on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Royal Bank Of Canada started coverage on Diamondback Energy in a report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price target for the company. Finally, Susquehanna cut their price target on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $191.45.

Insiders Place Their Bets

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on 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 $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 is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Company 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.