Corient Private Wealth LP Makes New $9.61 Million Investment in Diamondback Energy, Inc. $FANG

Corient Private Wealth LP purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 54,655 shares of the oil and natural gas company's stock, valued at approximately $9,608,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FANG. BlackRock Inc. purchased a new position in Diamondback Energy in the second quarter worth approximately $3,303,362,000. Boston Partners raised its holdings in shares of Diamondback Energy by 2.9% in the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company's stock valued at $821,649,000 after purchasing an additional 163,548 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Diamondback Energy by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company's stock valued at $844,073,000 after purchasing an additional 14,625 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Diamondback Energy by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company's stock worth $775,607,000 after purchasing an additional 532,756 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Diamondback Energy by 14.1% during the fourth quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company's stock worth $651,363,000 after purchasing an additional 534,073 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Buying and Selling at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director directly owned 13,437 shares of the company's stock, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Alvin Meloy sold 33,333 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the transaction, the director owned 818,197 shares in the company, valued at approximately $162,338,466.77. This trade 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. Over the last quarter, insiders sold 124,167 shares of company stock worth $23,711,609. 0.64% of the stock is owned by insiders.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $197.67 on Monday. 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 1 year low of $134.30 and a 1 year high of $216.90. The company has a market capitalization of $55.35 billion, a PE ratio of 38.53 and a beta of 0.43. The company has a fifty day moving average of $193.25 and a two-hundred day moving average of $190.66.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, topping analysts' consensus estimates of $6.08 by $0.40. The business had revenue of $5.56 billion for the quarter, compared to analysts' expectations of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The business's revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.38 earnings per share. As a group, analysts expect that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on FANG shares. Zacks Research cut Diamondback Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 28th. Susquehanna increased their price objective on Diamondback Energy from $245.00 to $255.00 and gave the company a "positive" rating in a report on Tuesday, July 21st. Wall Street Zen raised Diamondback Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Diamondback Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $205.00 price target on shares of Diamondback Energy in a report on Sunday, August 9th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.21.

Diamondback Energy Company 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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