Diamondback Energy, Inc. (NASDAQ:FANG) Stake Increased by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC increased its stake in Diamondback Energy by 55.9% in the first quarter, holding a total of 15,306 shares valued at approximately $2.45 million.
• Diamondback Energy reported a quarterly earnings per share of $2.67, which missed analysts' estimates by $0.05, despite a revenue increase of 48.1% year-over-year.
• The company declared a quarterly dividend of $1.00 per share, representing an annual yield of 2.8% with a payout ratio of 24.46%.

Headlands Technologies LLC increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 55.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,306 shares of the oil and natural gas company's stock after buying an additional 5,490 shares during the period. Headlands Technologies LLC's holdings in Diamondback Energy were worth $2,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its stake in Diamondback Energy by 4.0% during the first 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 purchasing an additional 1,384 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Diamondback Energy by 6.3% during the first 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 during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Diamondback Energy by 50.4% during the first 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 during the last quarter. Wealth Advisory Solutions LLC bought a new stake in Diamondback Energy during the first quarter valued at $2,631,000. Finally, Requisite Capital Management LLC increased its stake in Diamondback Energy by 501.7% during the first quarter. Requisite Capital Management LLC now owns 59,281 shares of the oil and natural gas company's stock valued at $9,478,000 after purchasing an additional 49,428 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $144.36 on Thursday. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $202.87. The company has a current ratio of 0.55, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $42.18 billion, a price-to-earnings ratio of 10.26 and a beta of 1.09. The firm has a 50-day moving average of $143.46 and a two-hundred day moving average of $146.45.

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 for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the company posted $4.52 earnings per share. Diamondback Energy's revenue was up 48.1% compared to the same quarter last year. As a group, analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. Diamondback Energy's dividend payout ratio is currently 24.46%.

Insider Buying and Selling

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the sale, the president directly owned 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Diamondback Energy in a research note on Friday, May 2nd. They set an "outperform" rating and a $180.00 target price for the company. KeyCorp reduced their price target on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a report on Monday, April 21st. UBS Group dropped their price objective on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Mizuho reduced their target price on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company boosted their target price on shares of Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $191.59.

Diamondback Energy Company 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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