Concurrent Investment Advisors LLC Boosts Stock Position in Diamondback Energy, Inc. $FANG

Concurrent Investment Advisors LLC increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 90.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,621 shares of the oil and natural gas company's stock after purchasing an additional 12,152 shares during the period. Concurrent Investment Advisors LLC's holdings in Diamondback Energy were worth $4,504,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Transamerica Financial Advisors LLC increased its holdings in shares of Diamondback Energy by 21.0% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 294 shares of the oil and natural gas company's stock worth $52,000 after buying an additional 51 shares during the last quarter. Capital Advisors Inc. OK lifted its holdings in shares of Diamondback Energy by 2.9% in the 2nd quarter. Capital Advisors Inc. OK now owns 1,929 shares of the oil and natural gas company's stock valued at $339,000 after acquiring an additional 54 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Diamondback Energy by 4.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,251 shares of the oil and natural gas company's stock valued at $220,000 after acquiring an additional 59 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in Diamondback Energy by 31.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company's stock worth $41,000 after acquiring an additional 66 shares in the last quarter. Finally, Scotia Capital Inc. grew its position in Diamondback Energy by 0.3% in the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company's stock worth $2,822,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $199.22 on Monday. The firm has a 50-day simple moving average of $195.00 and a 200-day simple moving average of $191.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The firm has a market cap of $55.79 billion, a P/E ratio of 38.83 and a beta of 0.43. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $216.90.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The business had revenue of $5.56 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter last year, the firm earned $2.38 EPS. The business's revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts anticipate that Diamondback Energy, Inc. will post 20.14 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, August 13th. Diamondback Energy's dividend payout ratio (DPR) is 85.77%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FANG shares. UBS Group lowered their price objective 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. Seaport Research Partners assumed coverage on Diamondback Energy in a research report on Thursday. They issued a "neutral" rating for the company. Raymond James Financial reaffirmed a "strong-buy" rating and set a $248.00 price objective on shares of Diamondback Energy in a research note on Friday, July 31st. Morgan Stanley reiterated an "equal weight" rating and set a $216.00 price objective on shares of Diamondback Energy in a research report on Wednesday, August 19th. Finally, Zacks Research lowered shares of Diamondback Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 28th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $222.21.

Insiders Place Their Bets

In other Diamondback Energy news, Director Charles Meloy sold 33,333 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the sale, the director owned 818,197 shares of the company's stock, valued at approximately $162,338,466.77. The trade was a 3.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the sale, the director directly owned 13,437 shares in the company, valued at $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 117,167 shares of company stock valued at $22,305,309 in the last three months. Insiders own 0.64% of the company's stock.

Diamondback Energy Profile

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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