4,033 Shares in Diamondback Energy, Inc. $FANG Purchased by 111 Capital

Key Points

• 111 Capital acquired 4,033 shares of Diamondback Energy, valued at approximately $554,000, marking a new position in the company.
• The company reported $2.67 earnings per share for the last quarter, missing analysts' consensus estimate of $2.72, while revenue increased by 48.1% year-over-year.
• Diamondback Energy declared a quarterly dividend of $1.00, yielding 2.7% annually, with a payout ratio of 28.43%.

111 Capital acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,033 shares of the oil and natural gas company's stock, valued at approximately $554,000.

Several other hedge funds have also modified their holdings of the company. Nuveen LLC purchased a new position in shares of Diamondback Energy in the 1st quarter valued at approximately $230,039,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Diamondback Energy during the 1st quarter worth approximately $77,622,000. Wellington Management Group LLP grew its stake in Diamondback Energy by 27.3% in the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company's stock valued at $311,792,000 after acquiring an additional 418,431 shares during the period. Victory Capital Management Inc. grew its stake in Diamondback Energy by 50.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,135,759 shares of the oil and natural gas company's stock valued at $181,585,000 after acquiring an additional 381,542 shares during the period. Finally, Boston Partners grew its stake in Diamondback Energy by 4.8% in 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 acquiring an additional 249,098 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Raymond James Financial decreased their price objective on Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating on the stock in a report on Wednesday, August 20th. KeyCorp reduced their price target on Diamondback Energy from $180.00 to $176.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. UBS Group raised their price objective on Diamondback Energy from $163.00 to $171.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Mizuho dropped their target price on Diamondback Energy from $183.00 to $176.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Finally, Melius Research began coverage on Diamondback Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $192.41.

Insider Activity

In related news, Chairman Travis D. Stice sold 20,400 shares of the company'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 value of $2,913,120.00. Following the completion of the sale, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. This represents a 16.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Diamondback Energy Price Performance

Shares of FANG opened at $147.47 on Monday. 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 stock has a 50 day moving average of $142.86 and a 200-day moving average of $141.41. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released 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 analysts' consensus estimates of $2.72 by ($0.05). The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The company's revenue for the quarter was up 48.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.52 EPS. As a group, analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid 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%.

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.

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