8,381 Shares in Diamondback Energy, Inc. $FANG Bought by Global Retirement Partners LLC

Key Points

• Global Retirement Partners LLC purchased 8,381 shares of Diamondback Energy in the second quarter, valued at approximately $1.47 million. Institutional investors collectively own 90.01% of the company.
• Diamondback Energy reported quarterly EPS of $6.48, beating estimates of $6.08, while revenue rose 51.2% year over year to $5.56 billion.
• The company declared a quarterly dividend of $1.10 per share, equivalent to a $4.40 annualized payout and a 2.1% yield. Analysts maintain a consensus “Buy” rating with an average price target of $221.75.

Global Retirement Partners LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 8,381 shares of the oil and natural gas company's stock, valued at approximately $1,473,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC acquired a new position in Diamondback Energy during the 4th quarter worth approximately $26,000. Cedar Mountain Advisors LLC acquired a new stake in Diamondback Energy in the first quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new stake in Diamondback Energy in the third quarter valued at approximately $26,000. Wellington Shields & Co. LLC raised its stake in shares of Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock valued at $28,000 after purchasing an additional 135 shares during the period. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $31,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 1.9%

NASDAQ:FANG opened at $206.29 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The company has a market capitalization of $57.77 billion, a price-to-earnings ratio of 40.21 and a beta of 0.43. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51. The stock has a 50-day simple moving average of $190.47 and a 200 day simple moving average of $188.07.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released 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. The company had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.Diamondback Energy's quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.38 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 19.73 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

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

Wall Street Analyst Weigh In

FANG has been the subject of several analyst reports. Truist Financial upped their target price on shares of Diamondback Energy from $220.00 to $224.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Scotiabank lifted their price target on shares of Diamondback Energy from $175.00 to $195.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. Zacks Research cut shares of Diamondback Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 28th. UBS Group reduced their price target on Diamondback Energy from $246.00 to $243.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Finally, Citigroup reduced their target price on Diamondback Energy from $221.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Diamondback Energy has a consensus rating of "Buy" and a consensus target price of $221.75.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 500 shares of the business's stock in a transaction on 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 in the company, valued at $2,640,370.50. The trade was a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the transaction, the executive vice president owned 46,392 shares in the company, valued at approximately $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 129,167 shares of company stock worth $24,714,309. Company insiders own 0.64% of the company's stock.

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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