Comprehensive Financial Consultants Institutional Inc. Boosts Stock Position in Diamondback Energy, Inc. $FANG

Key Points

• Comprehensive Financial Consultants Institutional Inc. increased its stake in Diamondback Energy by 13.5%, owning a total of 15,050 shares valued at $2,068,000 at the end of the last quarter.
• Several hedge funds, including Boston Partners and Wellington Management Group, have also boosted their positions in Diamondback Energy, indicating strong interest from institutional investors.
• Wall Street analysts maintain a generally positive outlook on Diamondback Energy, with a consensus target price of $192.41 and multiple analysts issuing buy ratings.

Comprehensive Financial Consultants Institutional Inc. boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 13.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,050 shares of the oil and natural gas company's stock after buying an additional 1,790 shares during the quarter. Comprehensive Financial Consultants Institutional Inc.'s holdings in Diamondback Energy were worth $2,068,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Boston Partners grew its holdings in shares of Diamondback Energy by 4.8% during the first quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company's stock worth $861,961,000 after purchasing an additional 249,098 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Diamondback Energy by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock worth $680,649,000 after purchasing an additional 94,177 shares during the last quarter. Demars Financial Group LLC grew its holdings in shares of Diamondback Energy by 5.3% during the first quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock worth $655,953,000 after purchasing an additional 208,200 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Diamondback Energy by 4.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company's stock worth $468,846,000 after purchasing an additional 114,930 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Diamondback Energy by 27.3% during the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company's stock worth $311,792,000 after buying an additional 418,431 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FANG shares. Susquehanna lowered their price target on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Piper Sandler reduced their price target on shares of Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Diamondback Energy in a research report on Saturday, September 27th. Melius initiated coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $213.00 price objective for the company. Finally, Melius Research initiated coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $213.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of "Buy" and a consensus target price of $192.41.

Diamondback Energy Trading Up 3.0%

Shares of NASDAQ:FANG opened at $147.47 on Monday. The stock has a market capitalization of $42.69 billion, a price-to-earnings ratio of 10.48 and a beta of 1.04. 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 quick ratio of 0.52 and a current ratio of 0.55. The company has a 50 day moving average price of $142.86 and a 200 day moving average price of $141.41.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.52 earnings per share. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $1.00 dividend. The ex-dividend date was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. Diamondback Energy's dividend payout ratio is presently 28.43%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the 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 owned 102,145 shares in the company, valued at $14,586,306. This represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

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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