Deutsche Bank AG Acquires 189,683 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• Deutsche Bank AG has increased its stake in Diamondback Energy, Inc. by 20.2%, owning approximately 1.13 million shares valued at about $180 million as of the end of the last quarter.
• A significant majority of the company's stock, 90.01%, is held by hedge funds and institutional investors, indicating strong institutional confidence in Diamondback Energy.
• Despite a year-over-year revenue increase of 48.1%, the company reported quarterly earnings of $2.67 per share, missing analyst expectations by five cents.

Deutsche Bank AG raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 20.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,130,265 shares of the oil and natural gas company's stock after acquiring an additional 189,683 shares during the quarter. Deutsche Bank AG owned approximately 0.38% of Diamondback Energy worth $180,707,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FANG. Investor s Fiduciary Advisor Network LLC raised its stake in shares of Diamondback Energy by 2.1% during the 1st 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. increased its position in shares of Diamondback Energy by 5.6% during the first 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 lifted its holdings in shares of Diamondback Energy by 2.9% during the 1st quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company's stock valued at $444,000 after purchasing an additional 78 shares during the last quarter. Grove Bank & Trust boosted its position in shares of Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 80 shares in the last quarter. Finally, Rehmann Capital Advisory Group boosted its position in shares of Diamondback Energy by 6.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company's stock worth $236,000 after purchasing an additional 82 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FANG shares. Raymond James Financial lifted their target price on Diamondback Energy from $204.00 to $221.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 22nd. Evercore ISI initiated coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price target on the stock. UBS Group reduced their price objective on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Wall Street Zen cut Diamondback Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Royal Bank Of Canada began coverage on Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $191.59.

Diamondback Energy Trading Down 3.7%

FANG stock traded down $5.19 during mid-day trading on Monday, reaching $136.84. 3,042,377 shares of the stock traded hands, compared to its average volume of 2,470,146. The company has a market cap of $39.61 billion, a P/E ratio of 9.73 and a beta of 1.09. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $202.87. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The stock's fifty day moving average is $143.67 and its 200-day moving average is $145.51.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%. Diamondback Energy's quarterly revenue was up 48.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.52 earnings per share. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be paid a $1.00 dividend. The ex-dividend date is Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.9%. Diamondback Energy's dividend payout ratio (DPR) is 28.43%.

Insider Buying and Selling at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the firm's stock in a transaction 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 transaction, the chairman directly owned 102,145 shares in the company, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company's stock.

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.