Advent Capital Management DE Has $4 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• Advent Capital Management DE has increased its stake in Diamondback Energy, Inc. by 31.6%, now owning 25,000 shares valued at approximately $3.99 million.
• Recent insider trading includes President Hof Matthew Kaes Van't selling 10,000 shares for around $1.43 million, which represents a 7.65% decrease in their position.
• Diamondback Energy declared a quarterly dividend of $1.00 per share, translating to an annual yield of 2.8%, with a payout ratio of 28.43%.

Advent Capital Management DE boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 31.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,000 shares of the oil and natural gas company's stock after purchasing an additional 6,000 shares during the quarter. Advent Capital Management DE's holdings in Diamondback Energy were worth $3,997,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FANG. Demars Financial Group LLC bought a new stake in Diamondback Energy during the 4th quarter valued at approximately $638,050,000. Alyeska Investment Group L.P. bought a new stake in Diamondback Energy during the 4th quarter valued at approximately $185,193,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Diamondback Energy by 11.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the period. GAMMA Investing LLC increased its holdings in shares of Diamondback Energy by 16,197.8% during the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock worth $96,827,000 after purchasing an additional 601,909 shares during the period. Finally, Two Sigma Investments LP increased its holdings in shares of Diamondback Energy by 5,748.3% during the 4th quarter. Two Sigma Investments LP now owns 448,624 shares of the oil and natural gas company's stock worth $73,498,000 after purchasing an additional 440,953 shares during the period. Institutional investors own 90.01% of the company's stock.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This represents 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 accessible through this link. Insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research reports. Susquehanna dropped their price objective on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday. Mizuho dropped their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Royal Bank Of Canada initiated coverage on shares of Diamondback Energy in a report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of "Moderate Buy" and a consensus price target of $191.59.

Diamondback Energy Price Performance

NASDAQ:FANG traded down $5.19 on Monday, reaching $136.84. The stock had a trading volume of 3,042,377 shares, compared to its average volume of 2,058,223. The company has a market capitalization of $39.61 billion, a P/E ratio of 9.73 and a beta of 1.09. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $202.87. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $143.66 and a 200-day moving average price of $145.25.

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

Diamondback Energy Announces Dividend

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

Diamondback Energy Company 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.