EFG International AG Invests $57.69 Million in Diamondback Energy, Inc. $FANG

EFG International AG acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 327,970 shares of the oil and natural gas company's stock, valued at approximately $57,685,000. Diamondback Energy comprises 1.1% of EFG International AG's holdings, making the stock its 22nd largest position. EFG International AG owned about 0.12% of Diamondback Energy as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FANG. Laurel Wealth Advisors LLC acquired a new position in Diamondback Energy in the 4th quarter valued at $26,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Diamondback Energy during the first quarter worth $26,000. JPL Wealth Management LLC purchased a new stake in shares of Diamondback Energy in the third quarter valued at $26,000. Wellington Shields & Co. LLC lifted its position in Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock worth $28,000 after buying an additional 135 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Diamondback Energy during the 2nd quarter valued at about $28,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Down 2.8%

FANG opened at $199.89 on Wednesday. The firm has a 50 day moving average price of $192.34 and a 200 day moving average price of $189.96. The company has a market cap of $55.97 billion, a PE ratio of 38.96 and a beta of 0.43. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $216.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating analysts' consensus estimates of $6.08 by $0.40. The firm had revenue of $5.56 billion for the quarter, compared to analysts' expectations of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. Diamondback Energy's revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.38 earnings per share. Sell-side analysts expect that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy's dividend payout ratio (DPR) is currently 85.77%.

Insider Buying and Selling at Diamondback Energy

In related news, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer directly owned 85,755 shares in the company, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Lawrence Plaumann sold 500 shares of the firm's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the transaction, the director directly owned 13,437 shares in the company, valued at $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 129,167 shares of company stock worth $24,714,309. Insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FANG shares. Weiss Ratings raised shares of Diamondback Energy from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Morgan Stanley reaffirmed an "equal weight" rating and set a $216.00 price target on shares of Diamondback Energy in a research note on Wednesday, August 19th. Zacks Research lowered shares of Diamondback Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 28th. Mizuho boosted their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Finally, Sanford C. Bernstein upped their price objective on Diamondback Energy from $237.00 to $241.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $222.21.

Diamondback Energy Company Profile

Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.

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