Point72 Europe London LLP Purchases 44,120 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Point72 Europe London LLP increased its holdings in Diamondback Energy by 64.4%, acquiring an additional 44,120 shares during the first quarter, bringing its total to 112,580 shares valued at approximately $18 million.
• Diamondback Energy reported a net margin of 27.25% and a revenue increase of 48.1% year-over-year, despite missing its quarterly earnings per share target by $0.05.
• The company announced a quarterly dividend of $1.00 per share, resulting in an annualized yield of 2.7%. The dividend payout ratio currently stands at 28.43%.

Point72 Europe London LLP raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 64.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 112,580 shares of the oil and natural gas company's stock after acquiring an additional 44,120 shares during the period. Diamondback Energy makes up approximately 1.2% of Point72 Europe London LLP's investment portfolio, making the stock its 27th largest position. Point72 Europe London LLP's holdings in Diamondback Energy were worth $17,999,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its stake in shares of Diamondback Energy by 4.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock valued at $5,784,000 after buying an additional 1,384 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Diamondback Energy by 6.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock valued at $9,409,000 after purchasing an additional 3,467 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Diamondback Energy by 50.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company's stock valued at $1,143,000 after purchasing an additional 2,397 shares in the last quarter. True North Advisors LLC acquired a new stake in shares of Diamondback Energy in the 1st quarter valued at $327,000. Finally, Wealth Advisory Solutions LLC acquired a new stake in Diamondback Energy during the 1st quarter worth $2,631,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Evercore ISI initiated coverage on shares of Diamondback Energy in a research note on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price target on the stock. Melius Research initiated coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 target price on the stock. William Blair initiated coverage on shares of Diamondback Energy in a report on Monday, August 25th. They set an "outperform" rating on the stock. Piper Sandler reduced their price target on shares of Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. Finally, Wells Fargo & Company boosted 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. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of "Buy" and a consensus target price of $193.33.

Diamondback Energy Stock Up 0.7%

NASDAQ FANG traded up $1.10 during trading on Tuesday, reaching $149.86. The company's stock had a trading volume of 1,558,704 shares, compared to its average volume of 1,843,046. The stock has a market capitalization of $43.38 billion, a PE ratio of 10.65 and a beta of 1.14. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $200.47. 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 business has a 50-day moving average price of $142.83 and a 200-day moving average price of $143.11.

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 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate 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 last year, the business earned $4.52 EPS. On average, research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal 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 dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, August 14th. Diamondback Energy's dividend payout ratio is presently 28.43%.

Insider Buying and Selling

In related news, Chairman Travis D. Stice sold 20,400 shares of the company's stock in a transaction on 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by 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.