Aberdeen Group plc Buys 4,017 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Aberdeen Group plc increased its stake in Diamondback Energy, owning a total of 98,547 shares worth approximately $13.54 million after purchasing 4,017 additional shares in the second quarter.
• Diamondback Energy reported revenue growth of 48.1% year-over-year, with a quarterly revenue of $3.68 billion, though their EPS of $2.67 missed estimates by $0.05.
• The company recently paid a quarterly dividend of $1.00 per share, resulting in an annualized dividend yield of 2.8% and a payout ratio of 28.43%.

Aberdeen Group plc increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,547 shares of the oil and natural gas company's stock after buying an additional 4,017 shares during the quarter. Aberdeen Group plc's holdings in Diamondback Energy were worth $13,540,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Trust Inc. lifted its position in shares of Diamondback Energy by 4.1% during the 2nd quarter. Blue Trust Inc. now owns 2,553 shares of the oil and natural gas company's stock worth $351,000 after buying an additional 100 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in shares of Diamondback Energy by 192.9% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,796 shares of the oil and natural gas company's stock worth $522,000 after buying an additional 2,500 shares during the period. Callan Family Office LLC lifted its position in shares of Diamondback Energy by 55.7% during the 2nd quarter. Callan Family Office LLC now owns 7,326 shares of the oil and natural gas company's stock worth $1,007,000 after buying an additional 2,620 shares during the period. US Bancorp DE increased its holdings in Diamondback Energy by 3.1% during the 2nd quarter. US Bancorp DE now owns 24,064 shares of the oil and natural gas company's stock valued at $3,307,000 after purchasing an additional 722 shares in the last quarter. Finally, Tectonic Advisors LLC increased its holdings in Diamondback Energy by 4.6% during the 2nd quarter. Tectonic Advisors LLC now owns 31,606 shares of the oil and natural gas company's stock valued at $4,343,000 after purchasing an additional 1,381 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Up 0.1%

NASDAQ FANG opened at $141.94 on Thursday. The stock has a fifty day moving average of $142.27 and a 200-day moving average of $140.80. The stock has a market capitalization of $41.09 billion, a P/E ratio of 10.09 and a beta of 1.04. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $186.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). The firm had revenue of $3.68 billion during 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 firm's quarterly revenue was up 48.1% on a year-over-year basis. During the same period last year, the business posted $4.52 earnings per share. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. Diamondback Energy's payout ratio is 28.43%.

Insider Activity at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the sale, the chairman directly owned 102,145 shares of the company's stock, valued at $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FANG shares. Wall Street Zen cut Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. UBS Group raised their price target on Diamondback Energy from $163.00 to $171.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Wells Fargo & Company raised their price target on Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $173.00 price target on shares of Diamondback Energy in a report on Friday, October 10th. Finally, William Blair started coverage on Diamondback Energy in a report on Monday, August 25th. They set an "outperform" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $192.23.

Diamondback Energy 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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