Davis Investment Partners LLC Purchases Shares of 4,951 Diamondback Energy, Inc. $FANG

Key Points

• Davis Investment Partners LLC purchased 4,951 shares of Diamondback Energy, Inc. valued at approximately $694,000, as disclosed in the latest SEC filings.
• Diamondback Energy reported earnings of $2.67 per share for the last quarter, missing estimates, but had a revenue of $3.68 billion, exceeding expectations by $330 million.
• The company announced a quarterly dividend of $1.00 per share, resulting in a 2.9% annualized yield, with institutional investors owning approximately 90.01% of the stock.

Davis Investment Partners LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,951 shares of the oil and natural gas company's stock, valued at approximately $694,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FANG. Investor s Fiduciary Advisor Network LLC increased its position in shares of Diamondback Energy by 2.1% during the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock worth $569,000 after acquiring an additional 74 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its position in Diamondback Energy by 5.6% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company's stock worth $226,000 after purchasing an additional 75 shares in the last quarter. FourThought Financial Partners LLC boosted its stake in Diamondback Energy by 2.9% in the first quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company's stock valued at $444,000 after acquiring an additional 78 shares during the last quarter. Grove Bank & Trust boosted its stake in Diamondback Energy by 65.0% in 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, Biondo Investment Advisors LLC boosted its stake in Diamondback Energy by 0.3% in the first quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company's stock valued at $4,614,000 after acquiring an additional 80 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Trading Down 1.1%

NASDAQ:FANG opened at $136.88 on Monday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $200.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The company's 50-day simple moving average is $142.68 and its 200 day simple moving average is $142.05. The firm has a market capitalization of $39.62 billion, a P/E ratio of 9.73 and a beta of 1.14.

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 (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.05). The firm had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The firm's quarterly revenue was up 48.1% on a year-over-year basis. During the same period last year, the firm posted $4.52 earnings per share. As a group, analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

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 shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the transaction, the chairman directly owned 102,145 shares of the company's stock, valued at $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of recent research reports. UBS Group upped their price target on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Bank of America raised their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen lowered shares of Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Morgan Stanley increased their target price on shares of Diamondback Energy from $184.00 to $186.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Susquehanna cut their price target on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $193.17.

Diamondback Energy Company 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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