Diamondback Energy, Inc. $FANG Shares Bought by Laffer Tengler Investments Inc.

Key Points

• Laffer Tengler Investments Inc. increased its stake in Diamondback Energy by 13.4%, now owning 15,882 shares worth approximately $2.54 million.
• Diamondback Energy announced a quarterly dividend of $1.00 per share, translating to an annualized dividend yield of 2.9%.
• Analysts have mixed ratings on the stock, with a consensus rating of "Buy" and an average target price of $193.33.

Laffer Tengler Investments Inc. lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 13.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,882 shares of the oil and natural gas company's stock after acquiring an additional 1,875 shares during the period. Laffer Tengler Investments Inc.'s holdings in Diamondback Energy were worth $2,539,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FANG. Investor s Fiduciary Advisor Network LLC raised its position in shares of Diamondback Energy by 2.1% during the 1st quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock valued at $569,000 after acquiring an additional 74 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of Diamondback Energy by 5.6% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company's stock worth $226,000 after buying an additional 75 shares during the last quarter. FourThought Financial Partners LLC boosted its holdings in shares of Diamondback Energy by 2.9% in the 1st quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company's stock valued at $444,000 after buying an additional 78 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 buying an additional 80 shares during the period. Finally, Rehmann Capital Advisory Group grew its position in shares of Diamondback Energy by 6.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company's stock valued at $236,000 after buying an additional 82 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on FANG shares. Piper Sandler decreased their target price 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. Mizuho dropped their target price on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Scotiabank reissued an "outperform" rating on shares of Diamondback Energy in a report on Friday, July 11th. Wells Fargo & Company lifted their price objective on shares of Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen lowered shares of Diamondback Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Two 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $193.33.

Diamondback Energy Trading Up 0.1%

NASDAQ FANG opened at $138.00 on Friday. 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, Inc. has a 1-year low of $114.00 and a 1-year high of $200.47. The firm's fifty day simple moving average is $143.02 and its 200-day simple moving average is $143.96. The company has a market capitalization of $39.95 billion, a PE ratio of 9.81 and a beta of 1.09.

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 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). The firm 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 business's revenue for the quarter was up 48.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.52 EPS. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

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

Insiders Place Their Bets

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

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.

Want to see what other hedge funds are holding FANG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondback Energy, Inc. (NASDAQ:FANG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.