Diamondback Energy, Inc. $FANG Shares Acquired by Asio Capital LLC

Key Points

• Asio Capital LLC increased its stake in Diamondback Energy by 6.0%, owning 36,399 shares worth approximately $5 million as of the last reporting period.
• Diamondback Energy reported $2.67 EPS for the last quarter, missing estimates by $0.05, while revenue reached $3.68 billion, surpassing expectations.
• The company announced a quarterly dividend of $1.00 per share, representing an annual yield of 2.8% and a dividend payout ratio of 28.43%.

Asio Capital LLC lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,399 shares of the oil and natural gas company's stock after acquiring an additional 2,046 shares during the quarter. Asio Capital LLC's holdings in Diamondback Energy were worth $5,001,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in Diamondback Energy by 145.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,162 shares of the oil and natural gas company's stock worth $6,416,000 after buying an additional 23,191 shares during the last quarter. GAMMA Investing LLC grew its position in Diamondback Energy by 16,197.8% in the first quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock worth $96,827,000 after buying an additional 601,909 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in Diamondback Energy by 19.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 2,602 shares of the oil and natural gas company's stock worth $416,000 after buying an additional 430 shares during the last quarter. Rhumbline Advisers grew its position in Diamondback Energy by 3.7% in the first quarter. Rhumbline Advisers now owns 353,765 shares of the oil and natural gas company's stock worth $56,560,000 after buying an additional 12,534 shares during the last quarter. Finally, Czech National Bank grew its position in Diamondback Energy by 5.9% in the first quarter. Czech National Bank now owns 42,921 shares of the oil and natural gas company's stock worth $6,862,000 after buying an additional 2,403 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Trading Down 3.2%

Shares of NASDAQ:FANG opened at $143.58 on Tuesday. The firm has a fifty day moving average of $142.82 and a two-hundred day moving average of $141.73. The firm has a market capitalization of $41.56 billion, a P/E ratio of 10.20 and a beta of 1.14. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $200.47. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35.

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 analysts' consensus estimates of $2.72 by ($0.05). The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The company's quarterly revenue was up 48.1% on a year-over-year basis. During the same period last year, the business earned $4.52 EPS. On average, equities analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. Diamondback Energy's dividend payout ratio (DPR) is 28.43%.

Insider Activity

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction 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 sale, the chairman owned 102,145 shares of the company's stock, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on FANG. KeyCorp decreased their price target on shares of Diamondback Energy from $180.00 to $176.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 3rd. Wall Street Zen lowered shares of Diamondback Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Melius Research started coverage on shares of Diamondback Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price target on the stock. Raymond James Financial decreased their price objective on shares of Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating for the company in a research note on Wednesday, August 20th. Finally, William Blair started coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Two analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $193.39.

Diamondback Energy 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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