Capital Analysts LLC Has $3.44 Million Stake in Diamondback Energy, Inc. $FANG

Key Points

• Capital Analysts LLC increased its stake in Diamondback Energy, Inc. by 10% during the first quarter, owning approximately $3.44 million worth of the stock.
• Analysts have mixed ratings for Diamondback Energy, with a consensus rating of Buy and a price target averaging $193.33, though JPMorgan lowered their target to $161.
• The company recently announced a quarterly dividend of $1.00 per share, indicating a dividend yield of 2.9%, set to be paid on August 21st.

Capital Analysts LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 10.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,522 shares of the oil and natural gas company's stock after buying an additional 1,959 shares during the period. Capital Analysts LLC's holdings in Diamondback Energy were worth $3,441,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FANG. BankPlus Trust Department bought a new position in shares of Diamondback Energy during the first quarter worth approximately $27,000. Pinnacle Bancorp Inc. increased its stake in shares of Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after purchasing an additional 88 shares during the period. SouthState Corp increased its stake in shares of Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock worth $31,000 after purchasing an additional 167 shares during the period. Fourth Dimension Wealth LLC bought a new position in shares of Diamondback Energy during the fourth quarter worth approximately $33,000. Finally, WASHINGTON TRUST Co increased its stake in shares of Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 109 shares during the period. Institutional investors own 90.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FANG shares. JPMorgan Chase & Co. lowered their target price on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Royal Bank Of Canada started coverage on Diamondback Energy in a research note on Friday, May 2nd. They set an "outperform" rating and a $180.00 target price on the stock. Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a research note on Friday, July 11th. Melius assumed coverage on Diamondback Energy in a research note on Wednesday. They set a "buy" rating and a $213.00 target price on the stock. Finally, Morgan Stanley increased their price target on Diamondback Energy from $184.00 to $186.00 and gave the stock an "overweight" rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of "Buy" and a consensus price target of $193.33.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the sale, the chairman owned 102,145 shares of the company's stock, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

Diamondback Energy Trading Down 0.8%

Shares of NASDAQ:FANG opened at $137.87 on Thursday. The company has a market capitalization of $39.91 billion, a P/E ratio of 9.80 and a beta of 1.09. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $200.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The business's 50 day simple moving average is $143.25 and its 200 day simple moving average is $144.14.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly 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). The company had revenue of $3.68 billion for 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 company's quarterly revenue was up 48.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.52 EPS. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, August 14th. Diamondback Energy's dividend payout ratio (DPR) is currently 28.43%.

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.

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