Diamondback Energy, Inc. $FANG Shares Acquired by Czech National Bank

Key Points

• The Czech National Bank increased its stake in Diamondback Energy, Inc. by 6.5% during the second quarter, purchasing an additional 2,785 shares, bringing its total holdings to 45,706 shares valued at approximately $6.28 million.
• Recent analyst reports reveal diverse price targets for Diamondback Energy, with a consensus average target price of $193.39, while several firms have given the stock a "buy" or "strong buy" rating.
• Diamondback Energy recently announced a quarterly dividend of $1.00 per share, representing an annualized yield of 2.8% and a robust dividend payout ratio of 28.43%.

Czech National Bank grew its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,706 shares of the oil and natural gas company's stock after buying an additional 2,785 shares during the quarter. Czech National Bank's holdings in Diamondback Energy were worth $6,280,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FANG. BankPlus Trust Department acquired a new stake in shares of Diamondback Energy during the first quarter valued at $27,000. Pinnacle Bancorp Inc. boosted its stake in shares of Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock valued at $29,000 after acquiring an additional 88 shares during the last quarter. SouthState Corp boosted its stake in shares of Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock valued at $31,000 after acquiring an additional 167 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of 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 valued at $32,000 after acquiring an additional 80 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in shares of Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock valued at $32,000 after acquiring an additional 109 shares during 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, Chairman Travis D. Stice sold 20,400 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wall Street Zen lowered Diamondback Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Susquehanna decreased their price target on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Raymond James Financial decreased their price target on Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, August 20th. Scotiabank reissued an "outperform" rating on shares of Diamondback Energy in a research note on Friday, July 11th. Finally, Piper Sandler decreased their price target on Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company's stock. According to MarketBeat.com, Diamondback Energy currently has an average rating of "Buy" and a consensus target price of $193.39.

Diamondback Energy Stock Down 0.7%

FANG stock traded down $0.97 during midday trading on Friday, hitting $139.67. 4,089,350 shares of the company's stock were exchanged, compared to its average volume of 1,830,844. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $200.47. The firm has a 50 day moving average price of $142.33 and a 200-day moving average price of $141.75. The stock has a market capitalization of $40.43 billion, a price-to-earnings ratio of 9.93 and a beta of 1.14.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly 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). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the firm posted $4.52 earnings per share. Diamondback Energy's revenue was up 48.1% compared to the same quarter last year. On average, analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Thursday, August 14th. Diamondback Energy's payout ratio is 28.43%.

About Diamondback Energy

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.