GDS Wealth Management Purchases 5,753 Shares of Diamondback Energy, Inc. $FANG

Key Points

• GDS Wealth Management has increased its stake in Diamondback Energy by 5.6%, owning a total of 107,653 shares worth approximately $17.2 million.
• Diamondback Energy recently reported earnings per share of $2.67 for the last quarter, falling short of analysts’ expectations, but still saw a 48.1% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.00 per share, reflecting an annualized dividend yield of 2.9% with a payout ratio of 28.43%.

GDS Wealth Management increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,653 shares of the oil and natural gas company's stock after acquiring an additional 5,753 shares during the quarter. Diamondback Energy comprises about 1.5% of GDS Wealth Management's investment portfolio, making the stock its 25th largest position. GDS Wealth Management's holdings in Diamondback Energy were worth $17,212,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FANG. Nuveen LLC acquired a new position in shares of Diamondback Energy during the first quarter valued at $230,039,000. Alyeska Investment Group L.P. acquired a new position in shares of Diamondback Energy during the fourth quarter valued at $185,193,000. Price T Rowe Associates Inc. MD lifted its stake in Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after buying an additional 928,429 shares during the period. GAMMA Investing LLC lifted its stake in Diamondback Energy by 16,197.8% in the first quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock valued at $96,827,000 after buying an additional 601,909 shares during the period. Finally, Two Sigma Investments LP lifted its stake in Diamondback Energy by 5,748.3% in the fourth quarter. Two Sigma Investments LP now owns 448,624 shares of the oil and natural gas company's stock valued at $73,498,000 after buying an additional 440,953 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Activity

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the 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 completion of the sale, the chairman directly owned 102,145 shares in the company, valued at $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FANG. Wells Fargo & Company increased their target price on Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Royal Bank Of Canada began coverage on Diamondback Energy in a research note on Friday, May 2nd. They issued an "outperform" rating and a $180.00 target price on the stock. Mizuho cut their target price on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Evercore ISI began coverage on Diamondback Energy in a research note on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 target price on the stock. Finally, Susquehanna cut their target price on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of "Buy" and an average target price of $193.33.

Diamondback Energy Trading Up 3.8%

Shares of Diamondback Energy stock traded up $5.28 during trading hours on Friday, hitting $143.28. The company's stock had a trading volume of 2,028,152 shares, compared to its average volume of 2,073,046. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $200.47. The stock has a 50 day moving average of $142.79 and a 200 day moving average of $143.80. The company has a market capitalization of $41.48 billion, a PE ratio of 10.18 and a beta of 1.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly 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). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the company earned $4.52 earnings per share. The firm's revenue was up 48.1% compared to the same quarter last year. Analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Thursday, August 14th. Diamondback Energy's dividend payout ratio is 28.43%.

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.