Diamondback Energy, Inc. $FANG Shares Acquired by Amundi

Key Points

• Amundi increased its stake in Diamondback Energy by 0.6%, owning approximately 695,462 shares worth $111.19 million after purchasing an additional 3,964 shares during the first quarter.
• The company reported a Q2 earnings per share of $2.67, which was below analysts' expectations, despite a 48.1% year-over-year revenue increase to $3.68 billion.
• Diamondback Energy announced a quarterly dividend of $1.00 per share, resulting in an annualized dividend yield of 2.9% and a payout ratio of 28.43%.

Amundi grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 695,462 shares of the oil and natural gas company's stock after buying an additional 3,964 shares during the quarter. Amundi owned 0.24% of Diamondback Energy worth $111,190,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FANG. Cary Street Partners Financial LLC acquired a new position in Diamondback Energy during the 4th quarter worth $55,000. Captrust Financial Advisors lifted its position in shares of Diamondback Energy by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 27,887 shares of the oil and natural gas company's stock worth $4,569,000 after purchasing an additional 876 shares during the last quarter. Crestline Management LP grew its stake in Diamondback Energy by 41.2% in the fourth quarter. Crestline Management LP now owns 6,214 shares of the oil and natural gas company's stock worth $1,018,000 after purchasing an additional 1,813 shares in the last quarter. CoreCap Advisors LLC increased its holdings in Diamondback Energy by 24.2% in the fourth quarter. CoreCap Advisors LLC now owns 776 shares of the oil and natural gas company's stock valued at $127,000 after buying an additional 151 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Diamondback Energy by 36.9% in the fourth quarter. Deutsche Bank AG now owns 940,582 shares of the oil and natural gas company's stock valued at $154,096,000 after buying an additional 253,604 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

FANG stock traded up $3.24 during mid-day trading on Wednesday, reaching $139.53. The company had a trading volume of 1,247,024 shares, compared to its average volume of 2,380,019. The stock's 50-day simple moving average is $142.85 and its two-hundred day simple moving average is $142.46. The stock has a market capitalization of $40.39 billion, a P/E ratio of 9.92 and a beta of 1.14. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $200.47.

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

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued 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 of this dividend was Thursday, August 14th. Diamondback Energy's payout ratio is 28.43%.

Analyst Ratings Changes

FANG has been the topic of a number of research analyst reports. Susquehanna reduced their target price on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Melius initiated coverage on Diamondback Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $213.00 price objective on the stock. Melius Research began coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price objective for the company. William Blair initiated coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They set an "outperform" rating for the company. Finally, Mizuho dropped their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $193.17.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the business's stock in a transaction that occurred 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 transaction, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.48% of the company's stock.

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.