Aberdeen Group plc Purchases 46,274 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Aberdeen Group plc increased its stake in Diamondback Energy by 95.9%, acquiring an additional 46,274 shares during the 1st quarter, bringing its total ownership to 94,530 shares valued at $15.18 million.
• Diamondback Energy reported a quarterly earnings miss, with earnings per share (EPS) of $2.67, falling short of the $2.72 analysts expected, despite revenues surpassing estimates.
• The company declared a quarterly dividend of $1.00 per share, which represents an annual yield of 2.9% and a payout ratio of 28.43%.

Aberdeen Group plc increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 95.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,530 shares of the oil and natural gas company's stock after acquiring an additional 46,274 shares during the period. Aberdeen Group plc's holdings in Diamondback Energy were worth $15,182,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. BankPlus Trust Department bought a new stake in Diamondback Energy during the first quarter worth about $27,000. Pinnacle Bancorp Inc. raised its holdings in Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after acquiring an additional 88 shares in the last quarter. SouthState Corp raised its holdings in Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock worth $31,000 after acquiring an additional 167 shares in the last quarter. Grove Bank & Trust raised its holdings in Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 80 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 109 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Trading Down 0.5%

Shares of NASDAQ:FANG opened at $139.52 on Tuesday. The company has a market capitalization of $40.39 billion, a P/E ratio of 9.92 and a beta of 1.09. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $200.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The business's 50 day simple moving average is $143.60 and its 200 day simple moving average is $144.22.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%. The company's quarterly revenue was up 48.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.52 EPS. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.9%. Diamondback Energy's dividend payout ratio is presently 28.43%.

Insiders Place Their Bets

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the company's 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 in the company, valued at $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a report on Friday, July 11th. JPMorgan Chase & Co. lowered their price target on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley reissued an "overweight" rating and set a $186.00 price target (up previously from $184.00) on shares of Diamondback Energy in a research report on Monday. Royal Bank Of Canada began coverage on Diamondback Energy in a research report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price target on the stock. Finally, Raymond James Financial boosted their price target on Diamondback Energy from $204.00 to $221.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has an average rating of "Moderate Buy" and a consensus price target of $191.59.

About Diamondback Energy

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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