Callan Family Office LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 12,186 shares of the oil and natural gas company's stock, valued at approximately $2,142,000.
A number of other institutional investors and hedge funds have also modified their holdings of FANG. BlackRock Inc. acquired a new position in Diamondback Energy in the 2nd quarter valued at $3,303,362,000. Bank of New York Mellon Corp bought a new stake in Diamondback Energy during the second quarter valued at about $852,791,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Diamondback Energy in the second quarter valued at about $268,855,000. Wellington Management Group LLP grew its position in shares of Diamondback Energy by 74.1% in the fourth quarter. Wellington Management Group LLP now owns 3,239,837 shares of the oil and natural gas company's stock valued at $487,045,000 after purchasing an additional 1,379,010 shares during the last quarter. Finally, EnCap Energy Capital Fund XII L.P. acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at about $169,342,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the transaction, the director directly owned 13,437 shares of the company's stock, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the transaction, the chief accounting officer owned 85,755 shares of the company's stock, valued at $17,228,179.50. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 129,167 shares of company stock valued at $24,714,309 over the last ninety days. Company insiders own 0.64% of the company's stock.
Diamondback Energy Price Performance
NASDAQ:FANG opened at $210.72 on Friday. The company has a 50-day moving average of $191.79 and a 200-day moving average of $189.22. The company has a market capitalization of $59.01 billion, a price-to-earnings ratio of 41.08 and a beta of 0.43. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $216.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating analysts' consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business had revenue of $5.56 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter in the previous year, the firm posted $2.38 earnings per share. The firm's revenue for the quarter was up 51.2% on a year-over-year basis. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.
Diamondback Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued 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 of this dividend was Thursday, August 13th. Diamondback Energy's payout ratio is presently 85.77%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on FANG. Morgan Stanley reissued an "equal weight" rating and set a $216.00 price objective on shares of Diamondback Energy in a research report on Wednesday. Zacks Research lowered Diamondback Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 28th. Barclays lowered their target price on Diamondback Energy from $232.00 to $221.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. UBS Group dropped their price target on Diamondback Energy from $246.00 to $243.00 and set a "buy" rating on the stock in a research report on Tuesday, July 21st. Finally, Sanford C. Bernstein upped their price target on Diamondback Energy from $237.00 to $241.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $222.21.
Check Out Our Latest Research Report on FANG
About Diamondback Energy
(
Free Report)
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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