Banco Bilbao Vizcaya Argentaria S.A. Increases Position in Diamondback Energy, Inc. $FANG

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Diamondback Energy, Inc. by 22.4% during the first quarter, owning 19,490 shares worth approximately $3.12 million.
• Multiple large institutional investors, including Nuveen LLC and Alyeska Investment Group, have significantly increased their stakes in Diamondback Energy, demonstrating strong interest in the company's stock.
• Diamondback Energy recently announced a quarterly dividend of $1.00, translating to an annualized yield of 2.9%, attracting attention from income-focused investors.

Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 22.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,490 shares of the oil and natural gas company's stock after acquiring an additional 3,561 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Diamondback Energy were worth $3,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FANG. Nuveen LLC acquired a new stake in Diamondback Energy in the 1st quarter valued at about $230,039,000. Alyeska Investment Group L.P. acquired a new stake in Diamondback Energy in the 4th quarter valued at about $185,193,000. Price T Rowe Associates Inc. MD grew its stake in Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after acquiring an additional 928,429 shares during the last quarter. GAMMA Investing LLC grew its stake in Diamondback Energy by 16,197.8% in the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock valued at $96,827,000 after acquiring an additional 601,909 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in Diamondback Energy by 5,748.3% in the 4th quarter. Two Sigma Investments LP now owns 448,624 shares of the oil and natural gas company's stock valued at $73,498,000 after acquiring an additional 440,953 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FANG shares. Wells Fargo & Company raised their price target on shares of Diamondback Energy from $210.00 to $211.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Scotiabank reaffirmed an "outperform" rating on shares of Diamondback Energy in a research note on Friday, July 11th. Bank of America raised their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. UBS Group raised their price target on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Raymond James Financial decreased their price target on shares of Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating on the stock in a research note on Wednesday. Two 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's stock. According to MarketBeat, Diamondback Energy currently has an average rating of "Buy" and an average target price of $193.33.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $138.00 on Friday. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $200.47. The firm has a 50 day moving average price of $143.02 and a 200 day moving average price of $143.96. The company has a market cap of $39.95 billion, a price-to-earnings ratio of 9.81 and a beta of 1.09. 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 earnings per share (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 company had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter in the previous year, the firm posted $4.52 earnings per share. Diamondback Energy's revenue for the quarter was up 48.1% compared to the same quarter last year. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

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

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the business'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 value of $2,913,120.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company's stock.

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.

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