Diamondback Energy, Inc. $FANG Shares Acquired by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Diamondback Energy, Inc. by 4.1% in the first quarter, acquiring an additional 3,518 shares, bringing their total holdings to 88,522 shares worth $14.15 million.
• Diamondback Energy reported Q2 earnings of $2.67 per share, falling short of analysts' expectations, though its revenue rose to $3.68 billion, a 48.1% increase compared to the prior year.
• The company announced a quarterly dividend of $1.00 per share, yielding 3.0% annually, with a payout ratio of 28.43%.

Voya Investment Management LLC boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,522 shares of the oil and natural gas company's stock after buying an additional 3,518 shares during the period. Voya Investment Management LLC's holdings in Diamondback Energy were worth $14,153,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FANG. Nuveen LLC purchased a new position in Diamondback Energy during the first quarter worth about $230,039,000. GAMMA Investing LLC raised its stake in Diamondback Energy by 16,197.8% during the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock valued at $96,827,000 after acquiring an additional 601,909 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Diamondback Energy in the first quarter valued at $77,622,000. Two Sigma Investments LP raised its position in shares of Diamondback Energy by 5,748.3% during the fourth quarter. Two Sigma Investments LP now owns 448,624 shares of the oil and natural gas company's stock worth $73,498,000 after purchasing an additional 440,953 shares during the period. Finally, Wellington Management Group LLP increased its position in Diamondback Energy by 27.3% in 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. Institutional investors and hedge funds own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Mizuho decreased their target price on Diamondback Energy from $183.00 to $176.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Morgan Stanley upped their price objective on Diamondback Energy from $184.00 to $186.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Bank of America raised their price objective on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Wells Fargo & Company raised their target price on Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, Susquehanna lowered their price target 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. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $193.39.

Insiders Place Their Bets

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction dated 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 transaction, the chairman directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company's stock.

Diamondback Energy Trading Down 0.7%

Shares of FANG stock traded down $0.97 during trading hours on Friday, reaching $139.67. 4,089,350 shares of the stock were exchanged, compared to its average volume of 1,830,844. The firm has a market capitalization of $40.43 billion, a price-to-earnings ratio of 9.93 and a beta of 1.14. 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 12-month low of $114.00 and a 12-month high of $200.47. The company's 50-day moving average price is $142.33 and its 200-day moving average price is $141.76.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly 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). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same period in the previous year, the company posted $4.52 EPS. Diamondback Energy's revenue for the quarter was up 48.1% on a year-over-year basis. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued 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 (DPR) is presently 28.43%.

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.