Caption Management LLC Acquires New Shares in Diamondback Energy, Inc. $FANG

Key Points

• Caption Management LLC has acquired a new stake in Diamondback Energy, purchasing 4,080 shares valued at approximately $652,000 during the first quarter.
• Various investors, including BankPlus Trust and SouthState Corp, have significantly adjusted their positions in Diamondback Energy, with institutional investors now owning 90.01% of the stock.
• Diamondback Energy recently declared a quarterly dividend of $1.00, reflecting an annualized yield of 2.7%, with a payout ratio of 28.43%.

Caption Management LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,080 shares of the oil and natural gas company's stock, valued at approximately $652,000.

A number of other hedge funds have also bought and sold shares of the business. Investor s Fiduciary Advisor Network LLC lifted its holdings in Diamondback Energy by 2.1% during the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock worth $569,000 after acquiring an additional 74 shares during the period. Mesirow Financial Investment Management Inc. lifted its holdings in Diamondback Energy by 5.6% during the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company's stock worth $226,000 after acquiring an additional 75 shares during the period. FourThought Financial Partners LLC lifted its holdings in Diamondback Energy by 2.9% during the first quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company's stock worth $444,000 after acquiring an additional 78 shares during the period. Grove Bank & Trust lifted its holdings in Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 80 shares during the period. Finally, Biondo Investment Advisors LLC lifted its holdings in Diamondback Energy by 0.3% during the first quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company's stock worth $4,614,000 after acquiring an additional 80 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

Shares of FANG traded down $7.57 during mid-day trading on Wednesday, hitting $142.29. The stock had a trading volume of 1,952,232 shares, compared to its average volume of 1,843,046. The firm has a market cap of $41.19 billion, a P/E ratio of 10.11 and a beta of 1.14. The business has a fifty day moving average price of $142.91 and a 200-day moving average price of $143.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week 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 (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 for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the firm posted $4.52 earnings per share. The business's revenue for the quarter was up 48.1% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Thursday, August 14th. Diamondback Energy's payout ratio is presently 28.43%.

Insider Activity

In related news, Chairman Travis D. Stice sold 20,400 shares of the business's stock in a transaction 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.48% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on FANG shares. Raymond James Financial dropped their price target on Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating on the stock in a report on Wednesday, August 20th. Morgan Stanley lifted their price target on Diamondback Energy from $184.00 to $186.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Melius Research began coverage on Diamondback Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $213.00 price target on the stock. Bank of America boosted their target price on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen lowered Diamondback Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Diamondback Energy currently has a consensus rating of "Buy" and a consensus price target of $193.17.

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.