Fiduciary Family Office LLC Buys New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• Fiduciary Family Office LLC made a new investment in Diamondback Energy, purchasing 9,543 shares valued at approximately $1.5 million in the first quarter.
• Analysts have mixed opinions on Diamondback Energy, with ratings ranging from "sell" to "strong buy", and a consensus price target of $191.59.
• Diamondback Energy announced a quarterly dividend of $1.00, representing a 2.8% dividend yield, with a payout ratio of 28.43%.

Fiduciary Family Office LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,543 shares of the oil and natural gas company's stock, valued at approximately $1,526,000.

Several other hedge funds have also made changes to their positions in FANG. BankPlus Trust Department acquired a new position in shares of Diamondback Energy during the 1st quarter worth $27,000. Pinnacle Bancorp Inc. grew its stake in Diamondback Energy by 95.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock valued at $29,000 after buying an additional 88 shares during the last quarter. Grove Bank & Trust grew its stake in Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock valued at $32,000 after buying an additional 80 shares during the last quarter. WASHINGTON TRUST Co grew its stake in Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock valued at $32,000 after buying an additional 109 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Diamondback Energy in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Activity at Diamondback Energy

In other 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 value of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares of the company's stock, valued at $14,586,306. This trade represents a 16.65% 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. 0.48% of the stock is owned by company insiders.

Diamondback Energy Price Performance

Shares of FANG stock traded down $5.19 during trading on Monday, hitting $136.84. The company had a trading volume of 3,042,377 shares, compared to its average volume of 2,058,223. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $202.87. The stock has a market capitalization of $39.61 billion, a price-to-earnings ratio of 9.73 and a beta of 1.09. The stock's 50-day moving average is $143.66 and its two-hundred day moving average is $145.25.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its 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). The firm had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%. The firm's quarterly revenue was up 48.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.52 EPS. As a group, analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is 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%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FANG. Susquehanna lowered their target price on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. UBS Group reduced their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Mizuho reduced their price target on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Finally, Bank of America raised their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of "Moderate 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.