Diamondback Energy, Inc. $FANG Stock Position Lifted by Callan Family Office LLC

Key Points

• Callan Family Office LLC increased its stake in Diamondback Energy by 55.7% during Q2, bringing its holdings to 7,326 shares, valued at approximately $1,007,000.
• Chairman Travis D. Stice sold 20,400 shares at an average price of $142.80, decreasing his ownership by 16.65%.
• Diamondback Energy reported Q2 earnings of $2.67 per share, missing estimates, but had a revenue increase of 48.1% year-over-year, totaling $3.68 billion.

Callan Family Office LLC lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 55.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,326 shares of the oil and natural gas company's stock after purchasing an additional 2,620 shares during the quarter. Callan Family Office LLC's holdings in Diamondback Energy were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Raymond James Financial dropped their price target on Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, August 20th. Melius began coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $213.00 price target on the stock. UBS Group lifted their target price on Diamondback Energy from $163.00 to $171.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Evercore ISI boosted their price target on Diamondback Energy from $165.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. Finally, Mizuho reduced their price target on Diamondback Energy from $183.00 to $176.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $192.32.

Diamondback Energy Trading Down 3.0%

Shares of FANG stock opened at $139.82 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $196.00. The stock has a fifty day moving average of $142.51 and a two-hundred day moving average of $140.89. The firm has a market capitalization of $40.48 billion, a PE ratio of 9.94 and a beta of 1.04.

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

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, August 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.9%. Diamondback Energy's dividend payout ratio (DPR) is 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.

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