43,604 Shares in Diamondback Energy, Inc. $FANG Purchased by Sanctuary Advisors LLC

Key Points

• Sanctuary Advisors purchased 43,604 Diamondback Energy shares in the second quarter, valued at approximately $7.7 million. Institutional investors collectively own 90.01% of FANG’s outstanding stock.
• Diamondback Energy reported stronger-than-expected quarterly results, with EPS of $6.48 versus the $6.08 consensus estimate and revenue of $5.56 billion, up 51.2% year over year.
• FANG shares opened at $205.60, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus rating and an average price target of $222.21. The company also pays a quarterly dividend of $1.10, representing a 2.1% yield.

Sanctuary Advisors LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 43,604 shares of the oil and natural gas company's stock, valued at approximately $7,665,000.

Several other hedge funds have also bought and sold shares of FANG. Cedar Mountain Advisors LLC bought a new position in shares of Diamondback Energy during the first quarter valued at approximately $26,000. Meeder Asset Management Inc. bought a new stake in shares of Diamondback Energy in the 2nd quarter worth approximately $28,000. Laurel Wealth Advisors LLC bought a new stake in shares of Diamondback Energy in the 4th quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new stake in shares of Diamondback Energy in the 3rd quarter worth approximately $26,000. Finally, Wellington Shields & Co. LLC increased its position in Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock valued at $28,000 after buying an additional 135 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Insiders Place Their Bets

In other news, CAO Teresa L. Dick sold 7,000 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the sale, the chief accounting officer owned 85,755 shares of the company's stock, valued at $17,228,179.50. This trade represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles Alvin Meloy sold 33,333 shares of Diamondback Energy stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the completion of the sale, the director owned 818,197 shares of the company's stock, valued at $162,338,466.77. This represents a 3.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 129,167 shares of company stock valued at $24,714,309 over the last quarter. Corporate insiders own 0.64% of the company's stock.

Diamondback Energy Stock Performance

FANG stock opened at $205.60 on Tuesday. The stock's 50 day simple moving average is $192.10 and its 200 day simple moving average is $189.74. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $216.90. The stock has a market capitalization of $57.57 billion, a PE ratio of 40.08 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, topping analysts' consensus estimates of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The business had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the company earned $2.38 EPS. The company's quarterly revenue was up 51.2% compared to the same quarter last year. As a group, research analysts forecast that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.1%. The ex-dividend date was Thursday, August 13th. Diamondback Energy's dividend payout ratio (DPR) is presently 85.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FANG shares. Jefferies Financial Group reiterated a "hold" rating and set a $205.00 price objective on shares of Diamondback Energy in a research note on Sunday, August 9th. Raymond James Financial reissued a "strong-buy" rating and issued a $248.00 target price on shares of Diamondback Energy in a research note on Friday, July 31st. Weiss Ratings upgraded Diamondback Energy from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 31st. Wolfe Research reaffirmed an "outperform" rating and issued a $206.00 price target on shares of Diamondback Energy in a research report on Tuesday, August 4th. Finally, Truist Financial upped their price target on shares of Diamondback Energy from $220.00 to $224.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $222.21.

Diamondback Energy Company Profile

Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.

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