Diamondback Energy, Inc. $FANG Shares Acquired by Vanguard Personalized Indexing Management LLC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Diamondback Energy by 31.8%, owning 35,364 shares valued at approximately $4.86 million as of the latest SEC filing.
• The company reported a missed EPS estimate of $2.67, under the consensus of $2.72, despite a revenue increase to $3.68 billion, which surpassed analyst predictions.
• Diamondback Energy declared a quarterly dividend of $1.00 per share, representing a 2.8% yield, with a current payout ratio of 28.43%.

Vanguard Personalized Indexing Management LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 31.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,364 shares of the oil and natural gas company's stock after acquiring an additional 8,530 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Diamondback Energy were worth $4,859,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Boston Partners raised its position in shares of Diamondback Energy by 4.8% in the first quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company's stock valued at $861,961,000 after buying an additional 249,098 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Diamondback Energy by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after acquiring an additional 94,177 shares in the last quarter. Demars Financial Group LLC raised its holdings in Diamondback Energy by 5.3% in the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock valued at $655,953,000 after acquiring an additional 208,200 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Diamondback Energy by 4.1% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company's stock worth $468,846,000 after purchasing an additional 114,930 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Diamondback Energy by 27.3% during the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company's stock worth $311,792,000 after purchasing an additional 418,431 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy 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 completion of the transaction, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James Financial cut their price target on Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating for the company in a report on Wednesday, August 20th. Morgan Stanley raised their target price on Diamondback Energy from $184.00 to $186.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Royal Bank Of Canada reiterated an "outperform" rating and set a $173.00 price target on shares of Diamondback Energy in a report on Friday. Melius Research assumed coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price objective for the company. Finally, Evercore ISI lifted their target price on shares of Diamondback Energy from $165.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Diamondback Energy has a consensus rating of "Buy" and a consensus target price of $192.32.

Diamondback Energy Stock Up 1.6%

Shares of FANG opened at $142.11 on Tuesday. The company's 50-day moving average price is $142.39 and its 200 day moving average price is $140.79. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $193.31. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The firm has a market cap of $41.14 billion, a P/E ratio of 10.10 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business's revenue was up 48.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.52 earnings per share. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy's dividend payout ratio is currently 28.43%.

About Diamondback Energy

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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