70,250 Shares in Diamondback Energy, Inc. $FANG Bought by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC bought 70,250 shares of Diamondback Energy in the second quarter, valued at approximately $12.35 million. Institutional investors collectively own 90.01% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $222.21, above the reported share price of $197.67.
• Diamondback exceeded quarterly expectations, reporting $6.48 in earnings per share and $5.56 billion in revenue, while paying a $1.10 quarterly dividend, equivalent to a 2.2% annualized yield.

Jupiter Topco LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 70,250 shares of the oil and natural gas company's stock, valued at approximately $12,348,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FANG. Hsbc Holdings PLC lifted its holdings in Diamondback Energy by 16.3% during the 4th quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company's stock valued at $50,890,000 after purchasing an additional 47,450 shares during the last quarter. Guinness Asset Management LTD boosted its holdings in Diamondback Energy by 12.0% in the 4th quarter. Guinness Asset Management LTD now owns 54,132 shares of the oil and natural gas company's stock valued at $8,042,000 after purchasing an additional 5,816 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Diamondback Energy by 1,127.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 26,907 shares of the oil and natural gas company's stock valued at $4,045,000 after buying an additional 24,715 shares in the last quarter. Peterson Wealth Services boosted its stake in shares of Diamondback Energy by 174.2% in the fourth quarter. Peterson Wealth Services now owns 23,973 shares of the oil and natural gas company's stock valued at $3,604,000 after buying an additional 15,229 shares during the period. Finally, National Pension Service boosted its stake in shares of Diamondback Energy by 7.7% in the fourth quarter. National Pension Service now owns 381,710 shares of the oil and natural gas company's stock valued at $57,382,000 after buying an additional 27,229 shares during the period. Institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

FANG has been the subject of several analyst reports. Roth Capital set a $212.00 price objective on Diamondback Energy and gave the company a "buy" rating in a report on Monday, June 22nd. UBS Group decreased their price target on Diamondback Energy from $246.00 to $243.00 and set a "buy" rating on the stock in a research report on Tuesday, July 21st. Susquehanna boosted their price target on Diamondback Energy from $245.00 to $255.00 and gave the company a "positive" rating in a research note on Tuesday, July 21st. Citigroup cut their price objective on shares of Diamondback Energy from $221.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, August 10th. Finally, Wolfe Research reiterated an "outperform" rating and set a $206.00 price objective on shares of Diamondback Energy in a research note on Tuesday, August 4th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.21.

Diamondback Energy Stock Down 1.4%

FANG stock opened at $197.67 on Friday. The stock has a market capitalization of $55.35 billion, a P/E ratio of 38.53 and a beta of 0.43. 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 firm has a 50-day moving average price of $193.25 and a 200-day moving average price of $190.49.

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

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders 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 2.2%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy's payout ratio is presently 85.77%.

Insider Activity at Diamondback Energy

In other news, CAO Teresa L. Dick sold 7,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief accounting officer directly owned 85,755 shares in the company, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Alvin Meloy sold 33,333 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $198.41, for a total value of $6,613,600.53. Following the completion of the transaction, the director owned 818,197 shares of the company's stock, valued at $162,338,466.77. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 129,167 shares of company stock worth $24,714,309. Corporate insiders own 0.64% of the company's stock.

About Diamondback Energy

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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