Diamondback Energy, Inc. $FANG Shares Acquired by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI significantly increased its stake in Diamondback Energy by 192.9%, acquiring a total of 3,796 shares valued at approximately $522,000.
• Diamondback Energy's recent quarterly earnings report revealed $2.67 EPS, falling short of the consensus estimate of $2.72, despite exceeding revenue expectations with $3.68 billion.
• The company announced a quarterly dividend of $1.00 per share, translating to a 2.9% dividend yield for shareholders, reflecting a payout ratio of 28.43%.

Commerzbank Aktiengesellschaft FI lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 192.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,796 shares of the oil and natural gas company's stock after purchasing an additional 2,500 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Diamondback Energy were worth $522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FANG. BankPlus Trust Department acquired a new position in shares of Diamondback Energy during the 1st quarter worth $27,000. Pinnacle Bancorp Inc. boosted its position in shares of Diamondback Energy by 95.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after buying an additional 88 shares in the last quarter. SouthState Corp boosted its position in shares of Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock worth $31,000 after buying an additional 167 shares in 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 buying an additional 80 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its position in shares of Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after buying an additional 109 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FANG shares. Melius 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 objective on the stock. Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a research report on Thursday. Weiss Ratings reiterated a "hold (c-)" rating on shares of Diamondback Energy in a research report on Wednesday. Royal Bank Of Canada reiterated an "outperform" rating and issued a $173.00 price objective on shares of Diamondback Energy in a research report on Friday. Finally, KeyCorp decreased their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $192.32.

Insider Buying and Selling at Diamondback Energy

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

Diamondback Energy Stock Performance

Shares of FANG opened at $139.82 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The company has a market capitalization of $40.48 billion, a price-to-earnings ratio of 9.94 and a beta of 1.04. The company's 50 day simple moving average is $142.51 and its 200 day simple moving average is $141.18. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $196.00.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business's quarterly revenue was up 48.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.52 EPS. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

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

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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