Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. Buys 2,165 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Holt Capital Advisors increased its stake in Diamondback Energy, Inc. by 21.9%, owning 12,040 shares worth approximately $1.93 million at the end of the most recent quarter.
• Institutional investors now own 90.01% of Diamondback Energy's stock, with notable increases from several firms such as GAMMA Investing LLC and Wellington Management Group LLP during the first quarter.
• Diamondback Energy reported $2.67 EPS for the quarter, missing analysts’ expectations, but its revenue of $3.68 billion exceeded forecasts by 10%, reflecting a 48.1% year-over-year increase.

Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 21.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,040 shares of the oil and natural gas company's stock after buying an additional 2,165 shares during the quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P.'s holdings in Diamondback Energy were worth $1,925,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BankPlus Trust Department purchased a new position in shares of Diamondback Energy during the 1st quarter valued at approximately $27,000. Pinnacle Bancorp Inc. lifted its stake 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 lifted 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 last quarter. Fourth Dimension Wealth LLC bought a new position in Diamondback Energy during the fourth quarter worth $33,000. Finally, WASHINGTON TRUST Co lifted its stake in Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 109 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

FANG has been the topic of several research analyst reports. Mizuho reduced their price objective on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. William Blair initiated coverage on Diamondback Energy in a research note on Monday, August 25th. They set an "outperform" rating on the stock. Piper Sandler reduced their price objective on Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. Melius Research assumed coverage on Diamondback Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $213.00 price objective on the stock. Finally, Bank of America raised their target price on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $193.17.

Diamondback Energy Stock Performance

Shares of FANG traded down $4.03 during trading hours on Friday, reaching $138.71. 1,993,976 shares of the company's stock traded hands, compared to its average volume of 1,686,301. The business's fifty day simple moving average is $142.93 and its two-hundred day simple moving average is $142.77. The firm has a market capitalization of $40.16 billion, a price-to-earnings ratio of 9.86 and a beta of 1.14. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $200.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). The firm had revenue of $3.68 billion for 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%.Diamondback Energy's revenue was up 48.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.52 earnings per share. Analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid 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 2.9%. 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 the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the sale, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company's stock.

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.