B. Metzler seel. Sohn & Co. AG Acquires New Stake in Diamondback Energy, Inc. $FANG

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 17,684 shares of Diamondback Energy in the second quarter, valued at approximately $3.1 million. Institutional investors collectively own 90.01% of the company.
• Diamondback Energy reported quarterly EPS of $6.48, beating estimates by $0.40, while revenue rose 51.2% year over year to $5.56 billion.
• The company pays a quarterly dividend of $1.10 per share, equivalent to an annualized $4.40 payout and a 2.1% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $222.21.

B. Metzler seel. Sohn & Co. AG bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,684 shares of the oil and natural gas company's stock, valued at approximately $3,108,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Laurel Wealth Advisors LLC bought a new position in Diamondback Energy in the 4th quarter valued at $26,000. Cedar Mountain Advisors LLC bought a new position in shares of Diamondback Energy in the first quarter worth $26,000. JPL Wealth Management LLC bought a new position in shares of Diamondback Energy in the third quarter worth $26,000. Wellington Shields & Co. LLC raised its position in shares of Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock worth $28,000 after buying an additional 135 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Diamondback Energy in the second quarter worth $28,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

FANG opened at $210.72 on Friday. The stock has a 50-day moving average price of $191.79 and a 200-day moving average price of $189.22. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $216.90. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $59.01 billion, a P/E ratio of 41.08 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating the consensus estimate of $6.08 by $0.40. The firm had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The company's revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.38 EPS. Equities analysts predict that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, August 13th. Diamondback Energy's dividend payout ratio (DPR) is presently 85.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FANG shares. Mizuho lifted their price objective on Diamondback Energy from $220.00 to $240.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Barclays decreased their target price on Diamondback Energy from $232.00 to $221.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. Weiss Ratings raised Diamondback Energy from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 31st. Sanford C. Bernstein lifted their price target on Diamondback Energy from $237.00 to $241.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Finally, Wall Street Zen raised Diamondback Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $222.21.

Insider Buying and Selling at Diamondback Energy

In other news, CAO Teresa L. Dick sold 7,000 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer directly owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles Alvin Meloy sold 83,334 shares of the company's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the sale, the director directly owned 851,530 shares of the company's stock, valued at $159,338,293.60. This trade represents a 8.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 129,167 shares of company stock valued at $24,714,309 over the last ninety days. 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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