Fielder Capital Group LLC Buys New Stake in Diamondback Energy, Inc. $FANG

Key Points

• Fielder Capital Group acquired 8,812 shares of Diamondback Energy valued at approximately $1.55 million, while institutional investors collectively own 90.01% of the company.
• Diamondback Energy insiders sold 134,167 shares worth about $25.75 million over the past 90 days, including significant sales by an executive vice president and chief accounting officer.
• The company exceeded quarterly earnings and revenue expectations, and analysts maintain an overall “Buy” rating with an average price target of $222.30; Diamondback also declared a $1.10 quarterly dividend.

Fielder Capital Group LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,812 shares of the oil and natural gas company's stock, valued at approximately $1,549,000.

Several other hedge funds also recently added to or reduced their stakes in FANG. Cedar Mountain Advisors LLC acquired a new position in shares of Diamondback Energy in the 1st quarter valued at about $26,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in Diamondback Energy during the third quarter worth about $26,000. Wellington Shields & Co. LLC grew its holdings 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 acquiring an additional 135 shares during the period. Finally, Global Assets Advisory LLC purchased a new position in Diamondback Energy during the first quarter valued at approximately $40,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Diamondback Energy

In related news, EVP Matt Zmigrosky sold 5,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the transaction, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. This represents a 9.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the transaction, the chief accounting officer directly owned 85,755 shares in the company, valued at $17,228,179.50. This represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 134,167 shares of company stock worth $25,749,309 in the last ninety days. 0.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FANG has been the subject of a number of analyst reports. Wall Street Zen raised Diamondback Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Zacks Research cut shares of Diamondback Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 28th. Morgan Stanley lowered their price target on shares of Diamondback Energy from $229.00 to $216.00 and set an "overweight" rating on the stock in a report on Monday, June 29th. Wells Fargo & Company lifted their price objective on shares of Diamondback Energy from $262.00 to $263.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $248.00 price objective on shares of Diamondback Energy in a research report on Friday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Diamondback Energy has an average rating of "Buy" and an average price target of $222.30.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $202.47 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. The company has a market cap of $56.70 billion, a price-to-earnings ratio of 39.47 and a beta of 0.43. The stock has a 50 day simple moving average of $190.31 and a 200-day simple moving average of $187.74. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) 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%. The firm's revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.38 EPS. On average, equities research analysts expect that Diamondback Energy, Inc. will post 19.73 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 13th. Diamondback Energy's dividend payout ratio (DPR) is presently 85.77%.

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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