Diamondback Energy, Inc. $FANG Shares Acquired by Vantage Investment Partners LLC

Key Points

• Vantage Investment Partners LLC increased its stake in Diamondback Energy by 4.4%, purchasing an additional 3,476 shares, bringing its total holdings to 83,184 shares valued at approximately $11.43 million.
• Diamondback Energy reported earnings per share of $2.67 for the latest quarter, missing the consensus estimate by $0.05, even though revenues surged 48.1% year-over-year.
• The company announced a quarterly dividend of $1.00 per share, resulting in an annualized yield of 2.7%, with a payout ratio of about 28.43%.

Vantage Investment Partners LLC boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,184 shares of the oil and natural gas company's stock after purchasing an additional 3,476 shares during the quarter. Vantage Investment Partners LLC's holdings in Diamondback Energy were worth $11,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. BankPlus Trust Department purchased a new position in shares of Diamondback Energy during the 1st quarter worth about $27,000. Pinnacle Bancorp Inc. increased its position in Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after purchasing an additional 88 shares during the last quarter. SouthState Corp raised its stake in Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock worth $31,000 after purchasing an additional 167 shares during the period. Grove Bank & Trust boosted its holdings 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 valued at $32,000 after purchasing an additional 80 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its stake in shares of Diamondback Energy by 119.8% during the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock valued at $32,000 after buying an additional 109 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Scotiabank reaffirmed an "outperform" rating on shares of Diamondback Energy in a research report on Friday, July 11th. Piper Sandler dropped their price target on Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Wall Street Zen downgraded Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Susquehanna decreased their target price on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Finally, Morgan Stanley raised their price target on shares of Diamondback Energy from $184.00 to $186.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $192.41.

Diamondback Energy Stock Performance

FANG stock opened at $147.47 on Monday. The stock's 50 day simple moving average is $142.86 and its 200 day simple moving average is $141.41. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $200.47. The firm has a market cap of $42.69 billion, a P/E ratio of 10.48 and a beta of 1.04. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.05). The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm's revenue for the quarter was up 48.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.52 EPS. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. Diamondback Energy's dividend payout ratio (DPR) is currently 28.43%.

Insider Buying and Selling

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction that occurred on Thursday, August 7th. The stock was 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 directly owned 102,145 shares in the company, valued at $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. 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.

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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