RPG Investment Advisory LLC Acquires 75,257 Shares of Diamondback Energy, Inc. $FANG

Key Points

• RPG Investment Advisory LLC significantly increased its stake in Diamondback Energy by 100.7% during the first quarter, owning 150,013 shares valued at approximately $23.98 million.
• Major brokerage firms have adjusted their target prices for Diamondback Energy, with Wells Fargo raising it to $211.00 and Mizuho lowering it to $179.00, reflecting varied outlooks among analysts.
• Diamondback Energy recently announced a quarterly dividend of $1.00 per share, representing an annualized payout of $4.00 and a yield of 2.9% for shareholders.

RPG Investment Advisory LLC boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 100.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,013 shares of the oil and natural gas company's stock after buying an additional 75,257 shares during the quarter. Diamondback Energy makes up approximately 1.7% of RPG Investment Advisory LLC's portfolio, making the stock its 24th largest holding. RPG Investment Advisory LLC owned about 0.05% of Diamondback Energy worth $23,984,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FANG. TD Waterhouse Canada Inc. lifted its holdings in Diamondback Energy by 8.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 7,915 shares of the oil and natural gas company's stock valued at $1,297,000 after purchasing an additional 647 shares during the last quarter. Stifel Financial Corp lifted its holdings in Diamondback Energy by 23.2% during the fourth quarter. Stifel Financial Corp now owns 260,307 shares of the oil and natural gas company's stock valued at $42,650,000 after purchasing an additional 48,991 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Diamondback Energy by 17.7% during the fourth quarter. Hsbc Holdings PLC now owns 561,935 shares of the oil and natural gas company's stock valued at $92,041,000 after purchasing an additional 84,464 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Diamondback Energy by 11.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after purchasing an additional 928,429 shares during the last quarter. Finally, Syon Capital LLC lifted its holdings in Diamondback Energy by 12.6% during the fourth quarter. Syon Capital LLC now owns 1,728 shares of the oil and natural gas company's stock valued at $283,000 after purchasing an additional 194 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on FANG shares. Susquehanna dropped their price objective on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. UBS Group increased their price target on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a "buy" rating in a report on Wednesday. Scotiabank reissued an "outperform" rating on shares of Diamondback Energy in a report on Friday, July 11th. Melius Research assumed coverage on shares of Diamondback Energy in a report on Wednesday. They issued a "buy" rating and a $213.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $193.33.

Diamondback Energy Price Performance

FANG traded up $5.28 on Friday, reaching $143.28. The company had a trading volume of 2,028,152 shares, compared to its average volume of 2,122,723. The business has a 50 day simple moving average of $142.79 and a 200 day simple moving average of $143.54. The company has a market cap of $41.48 billion, a price-to-earnings ratio of 10.18 and a beta of 1.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $200.47.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results 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 company had revenue of $3.68 billion during 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 company's revenue for the quarter was up 48.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.52 earnings per share. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

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

Insiders Place Their Bets

In related news, Chairman Travis D. Stice sold 20,400 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the sale, the chairman directly owned 102,145 shares of the company's stock, valued at $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.

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.