Commerzbank Aktiengesellschaft FI Takes Position in Diamondback Energy, Inc. $FANG

Key Points

• Commerzbank Aktiengesellschaft FI purchased 7,661 shares of Diamondback Energy during the second quarter, representing an investment of approximately $1.35 million. Institutional investors and hedge funds collectively own 90.01% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and an average price target of $221.75. Recent targets range from $212 to $243, although Zacks Research downgraded the stock to “Hold.”
• Diamondback reported quarterly EPS of $6.48, exceeding estimates, while revenue rose 51.2% year over year to $5.56 billion. The company also declared a quarterly dividend of $1.10 per share, equating to a 2.1% annualized yield.

Commerzbank Aktiengesellschaft FI purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,661 shares of the oil and natural gas company's stock, valued at approximately $1,347,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $26,000. Cedar Mountain Advisors LLC acquired a new position in shares of Diamondback Energy during the 1st quarter worth $26,000. JPL Wealth Management LLC bought a new position in shares of Diamondback Energy during the 3rd quarter valued at $26,000. Wellington Shields & Co. LLC lifted its stake in shares of Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock valued at $28,000 after purchasing an additional 135 shares during the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Wall Street Analyst Weigh In

FANG has been the subject of a number of recent research reports. Citigroup decreased their price objective on shares of Diamondback Energy from $221.00 to $220.00 and set a "buy" rating for the company in a report on Monday, August 10th. Sanford C. Bernstein boosted their price target on Diamondback Energy from $237.00 to $241.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. UBS Group decreased their price target on Diamondback Energy from $246.00 to $243.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. Roth Capital set a $212.00 price objective on Diamondback Energy and gave the company a "buy" rating in a report on Monday, June 22nd. Finally, Zacks Research downgraded Diamondback Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 28th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $221.75.

Insiders Place Their Bets

In other Diamondback Energy news, 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 sale, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles Alvin Meloy sold 33,333 shares of Diamondback Energy stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $198.41, for a total value of $6,613,600.53. Following the completion of the transaction, the director directly owned 818,197 shares in the company, valued at approximately $162,338,466.77. This represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 129,167 shares of company stock worth $24,714,309 in the last 90 days. 0.64% of the stock is owned by company insiders.

Diamondback Energy Stock Up 1.8%

Diamondback Energy stock opened at $210.02 on Wednesday. The firm has a market cap of $58.81 billion, a price-to-earnings ratio of 40.94 and a beta of 0.43. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The firm has a fifty day moving average price of $190.79 and a two-hundred day moving average price of $188.42.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.08 by $0.40. The company had revenue of $5.56 billion during the quarter, compared to analysts' expectations of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business's quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.38 earnings per share. As a group, analysts forecast that Diamondback Energy, Inc. will post 19.5 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be paid a dividend of $1.10 per share. The ex-dividend date is Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.1%. Diamondback Energy's dividend payout ratio is presently 85.77%.

About Diamondback Energy

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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