5,427 Shares in Diamondback Energy, Inc. $FANG Acquired by Keebeck Wealth Management

Key Points

• Keebeck Wealth Management acquired 5,427 shares of Diamondback Energy during the second quarter, valued at approximately $954,000. Institutional investors collectively own about 90.01% of the company.
• Diamondback Energy reported quarterly EPS of $6.48, exceeding estimates of $6.08, while revenue rose 51.2% year over year to $5.56 billion. The company also pays a $1.10 quarterly dividend, equivalent to a 2.1% yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $222.21; however, insiders have sold roughly $24.7 million in shares over the past 90 days.

Keebeck Wealth Management purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,427 shares of the oil and natural gas company's stock, valued at approximately $954,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FANG. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the fourth quarter worth approximately $26,000. Cedar Mountain Advisors LLC purchased a new stake in Diamondback Energy in the 1st quarter valued at $26,000. JPL Wealth Management LLC purchased a new stake in Diamondback Energy in the 3rd quarter valued at $26,000. Wellington Shields & Co. LLC boosted its stake 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 worth $28,000 after purchasing an additional 135 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Diamondback Energy during the 2nd quarter worth $28,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $210.72 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. The firm has a market cap of $59.01 billion, a price-to-earnings ratio of 41.08 and a beta of 0.43. The firm's fifty day moving average price is $191.79 and its 200 day moving average price is $189.22. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $216.90.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.58% and a return on equity of 10.10%. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the firm earned $2.38 EPS. Diamondback Energy's quarterly revenue was up 51.2% on a year-over-year basis. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 19.78 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, August 13th. Diamondback Energy's payout ratio is 85.77%.

Insider Activity

In related news, Director Charles Alvin Meloy sold 83,334 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the transaction, the director directly owned 851,530 shares of the company's stock, valued at $159,338,293.60. This represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the firm's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the sale, the director owned 13,437 shares of the company's stock, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 129,167 shares of company stock valued at $24,714,309. Company insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Diamondback Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Sanford C. Bernstein increased their target price on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Wolfe Research reissued an "outperform" rating and set a $206.00 price target on shares of Diamondback Energy in a report on Tuesday, August 4th. Citigroup lowered their price target on Diamondback Energy from $221.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Finally, Susquehanna boosted their price target on Diamondback Energy from $245.00 to $255.00 and gave the company a "positive" rating in a research report on Tuesday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $222.21.

Diamondback Energy 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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