Diamondback Energy, Inc. $FANG Holdings Boosted by EnCap Energy Capital Fund XI L.P.

Key Points

• EnCap Energy Capital Fund XI increased its Diamondback Energy stake by 3.8% in the fourth quarter, making FANG its largest holding at about 38.2% of assets. The fund now owns 2,896,632 shares worth roughly $435.5 million.
• Diamondback Energy’s latest earnings beat expectations, with EPS of $4.23 versus the $3.74 estimate and revenue of $4.24 billion versus the $3.83 billion forecast. Revenue also rose 4.7% year over year.
• Analysts remain broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $223.63. The company also recently raised its quarterly dividend to $1.10 per share.

EnCap Energy Capital Fund XI L.P. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,896,632 shares of the oil and natural gas company's stock after buying an additional 107,369 shares during the period. Diamondback Energy makes up about 38.2% of EnCap Energy Capital Fund XI L.P.'s holdings, making the stock its biggest position. EnCap Energy Capital Fund XI L.P. owned approximately 1.01% of Diamondback Energy worth $435,451,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new position in Diamondback Energy in the 4th quarter valued at $25,000. Richardson Financial Services Inc. grew its position in Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company's stock valued at $26,000 after buying an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in Diamondback Energy in the 4th quarter valued at $26,000. JPL Wealth Management LLC purchased a new position in Diamondback Energy in the 3rd quarter valued at $26,000. Finally, Wellington Shields & Co. LLC grew its position in Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock valued at $28,000 after buying an additional 135 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FANG has been the topic of several research analyst reports. Mizuho boosted their target price on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Citigroup boosted their target price on shares of Diamondback Energy from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Wednesday, May 20th. Weiss Ratings restated a "hold (c)" rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Scotiabank boosted their target price on shares of Diamondback Energy from $175.00 to $195.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 22nd. Finally, Morgan Stanley boosted their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock an "overweight" rating in a research report on Friday, May 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $223.63.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $185.48 on Thursday. The firm has a market capitalization of $52.18 billion, a P/E ratio of 215.68 and a beta of 0.42. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51. The company's fifty day moving average is $195.33 and its two-hundred day moving average is $176.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.74 by $0.49. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business's revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.54 EPS. Analysts forecast that Diamondback Energy, Inc. will post 19.92 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a dividend of $1.10 per share. This is a boost from Diamondback Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.4%. Diamondback Energy's dividend payout ratio is presently 511.63%.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the transaction, the director owned 13,437 shares of the company's stock, valued at $2,640,370.50. The trade was a 3.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Teresa L. Dick sold 7,000 shares of Diamondback Energy stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the transaction, the chief accounting officer directly owned 85,755 shares of the company's stock, valued at $17,228,179.50. This trade represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 121,548 shares of company stock worth $23,146,460. Corporate insiders own 0.64% of the company's stock.

About Diamondback Energy

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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