Fulcrum Asset Management LLP Makes New Investment in Diamondback Energy, Inc. $FANG

Fulcrum Asset Management LLP purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,508 shares of the oil and natural gas company's stock, valued at approximately $2,619,000.

Several other hedge funds and other institutional investors have also modified their holdings of FANG. Transamerica Financial Advisors LLC raised its stake in Diamondback Energy by 21.0% during the second quarter. Transamerica Financial Advisors LLC now owns 294 shares of the oil and natural gas company's stock worth $52,000 after acquiring an additional 51 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in Diamondback Energy by 31.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company's stock valued at $41,000 after acquiring an additional 66 shares during the period. Scotia Capital Inc. boosted its stake in Diamondback Energy by 0.3% in the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company's stock valued at $2,822,000 after acquiring an additional 68 shares during the period. Capital Financial Group Inc. Co. ADV grew its stake in Diamondback Energy by 2.1% during the 1st quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company's stock worth $709,000 after buying an additional 75 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in Diamondback Energy by 0.5% in the third quarter. Kestra Private Wealth Services LLC now owns 17,564 shares of the oil and natural gas company's stock valued at $2,513,000 after buying an additional 86 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FANG has been the subject of several analyst reports. UBS Group reduced their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Morgan Stanley reiterated an "equal weight" rating and issued a $216.00 price objective on shares of Diamondback Energy in a research report on Wednesday, August 19th. Wells Fargo & Company boosted their target price on shares of Diamondback Energy from $262.00 to $263.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Truist Financial boosted their target price on shares of Diamondback Energy from $220.00 to $224.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Diamondback Energy from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.21.

Insider Activity at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 83,334 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the transaction, the director owned 851,530 shares in the company, valued at $159,338,293.60. This trade represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 129,167 shares of company stock worth $24,714,309 over the last ninety days. Insiders own 0.64% of the company's stock.

Diamondback Energy Price Performance

Shares of FANG opened at $197.67 on Friday. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $216.90. The stock's fifty day moving average is $193.25 and its 200-day moving average is $190.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The firm has a market capitalization of $55.35 billion, a price-to-earnings ratio of 38.53 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, topping the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company's quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.38 earnings per share. Equities analysts anticipate that Diamondback Energy, Inc. will post 20.13 EPS for the current year.

Diamondback Energy Dividend Announcement

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