Focus Partners Advisor Solutions LLC Invests $328,000 in Diamondback Energy, Inc. $FANG

Key Points

• Focus Partners Advisor Solutions LLC acquired 2,049 shares of Diamondback Energy, Inc. valued at approximately $328,000, making a new investment in the company during the first quarter.
• Diamondback Energy's stock has seen changes in analyst ratings, with Mizuho lowering its price target from $186 to $179 while maintaining an "outperform" rating, while other firms also adjusted their estimates.
• The company recently declared a quarterly dividend of $1.00 per share, reflecting a 2.9% dividend yield and a payout ratio of 28.43%.

Focus Partners Advisor Solutions LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,049 shares of the oil and natural gas company's stock, valued at approximately $328,000.

A number of other hedge funds have also recently modified their holdings of the business. Boston Partners grew its position in shares of Diamondback Energy by 4.8% during the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company's stock valued at $861,961,000 after acquiring an additional 249,098 shares during the period. Bank of New York Mellon Corp grew its position in shares of Diamondback Energy by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after acquiring an additional 94,177 shares during the period. Demars Financial Group LLC grew its position in shares of Diamondback Energy by 5.3% during the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock valued at $655,953,000 after acquiring an additional 208,200 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of Diamondback Energy by 4.1% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company's stock valued at $468,846,000 after acquiring an additional 114,930 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Diamondback Energy by 27.3% during the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company's stock valued at $311,792,000 after acquiring an additional 418,431 shares during the period. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FANG shares. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $184.00 to $186.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Raymond James Financial cut their price objective on shares of Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating for the company in a research report on Wednesday, August 20th. KeyCorp reduced their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Melius Research assumed coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price objective for the company. Finally, Bank of America increased their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $193.17.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG traded up $3.35 during midday trading on Wednesday, reaching $139.64. 2,004,632 shares of the company were exchanged, compared to its average volume of 2,384,840. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The business's fifty day moving average is $142.85 and its two-hundred day moving average is $142.46. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $200.47. The stock has a market cap of $40.42 billion, a PE ratio of 9.92 and a beta of 1.14.

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

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders 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 yield of 2.9%. Diamondback Energy's dividend payout ratio (DPR) is 28.43%.

Insider Buying and Selling

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the transaction, the chairman owned 102,145 shares in the company, valued at $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by company insiders.

About Diamondback Energy

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.