Diamondback Energy, Inc. $FANG Position Increased by Continuum Advisory LLC

Key Points

• Continuum Advisory increased its Diamondback Energy stake by 708.3% in the second quarter, ending with 8,301 shares valued at approximately $1.46 million. Institutional investors collectively own 90.01% of FANG.
• Diamondback Energy reported quarterly earnings of $6.48 per share, exceeding estimates of $6.08, while revenue rose 51.2% year over year to $5.56 billion.
• Insiders sold 117,167 shares worth approximately $22.3 million over the past three months, while the company maintained a quarterly dividend of $1.10 per share, representing a 2.2% yield.

Continuum Advisory LLC boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 708.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,301 shares of the oil and natural gas company's stock after buying an additional 7,274 shares during the quarter. Continuum Advisory LLC's holdings in Diamondback Energy were worth $1,459,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC bought a new stake in shares of Diamondback Energy during the 1st quarter worth $26,000. JPL Wealth Management LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter worth $26,000. Wellington Shields & Co. LLC raised its position in shares of Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock worth $28,000 after purchasing an additional 135 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Diamondback Energy during the second quarter worth $28,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $31,000. Institutional investors own 90.01% of the company's stock.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles 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 sale, the director owned 818,197 shares of the company's stock, valued at approximately $162,338,466.77. This represents a 3.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 117,167 shares of company stock valued at $22,305,309 over the last three months. 0.64% of the stock is owned by insiders.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $202.94 on Friday. The stock has a market cap of $56.83 billion, a PE ratio of 39.56 and a beta of 0.43. The business has a fifty day simple moving average of $194.61 and a 200-day simple moving average of $191.65. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $216.90.

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

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a $1.10 dividend. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy's dividend payout ratio is currently 85.77%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FANG. Jefferies Financial Group reiterated a "hold" rating and issued a $205.00 price target on shares of Diamondback Energy in a research report on Sunday, August 9th. Weiss Ratings upgraded Diamondback Energy from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 31st. Barclays cut their price objective on Diamondback Energy from $232.00 to $221.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. Wolfe Research reaffirmed an "outperform" rating and set a $206.00 price objective on shares of Diamondback Energy in a research note on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of Diamondback Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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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