Headlands Technologies LLC trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 83.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,761 shares of the oil and natural gas company's stock after selling 14,228 shares during the period. Headlands Technologies LLC's holdings in Diamondback Energy were worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Quantitative Investment Management LLC purchased a new stake in shares of Diamondback Energy in the 2nd quarter worth approximately $1,176,000. Moore Capital Management LP purchased a new position in Diamondback Energy during the second quarter valued at approximately $5,449,000. Sigma Planning Corp lifted its holdings in Diamondback Energy by 5.8% during the second quarter. Sigma Planning Corp now owns 3,701 shares of the oil and natural gas company's stock worth $650,000 after buying an additional 202 shares during the period. GTS Securities LLC bought a new stake in Diamondback Energy during the 2nd quarter valued at $265,000. Finally, Wedbush Securities Inc. boosted its position in Diamondback Energy by 1.5% during the 2nd quarter. Wedbush Securities Inc. now owns 4,979 shares of the oil and natural gas company's stock valued at $875,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.
Insiders Place Their Bets
In related news, Director Charles Alvin Meloy sold 33,333 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the transaction, the director directly owned 818,197 shares of the company's stock, valued at $162,338,466.77. This represents a 3.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director owned 13,437 shares of the company's stock, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 117,167 shares of company stock valued at $22,305,309 in the last three months. Insiders own 0.64% of the company's stock.
Diamondback Energy Trading Up 0.1%
NASDAQ:FANG opened at $203.42 on Thursday. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $216.90. The firm has a 50 day moving average of $194.21 and a 200 day moving average of $191.41. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $56.96 billion, a price-to-earnings ratio of 39.65 and a beta of 0.43.
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, topping the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business's revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.38 earnings per share. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.
Diamondback Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were given a $1.10 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy's dividend payout ratio (DPR) is presently 85.77%.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Susquehanna lifted their price target on Diamondback Energy from $245.00 to $255.00 and gave the company a "positive" rating in a report on Tuesday, July 21st. Truist Financial upped their price objective on Diamondback Energy from $220.00 to $224.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Citigroup dropped their price objective on Diamondback Energy from $221.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. Roth Capital set a $212.00 price objective on Diamondback Energy and gave the company a "buy" rating in a research report on Monday, June 22nd. Finally, Mizuho lifted their target price on Diamondback Energy from $220.00 to $240.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $222.21.
View Our Latest Research Report on Diamondback Energy
About Diamondback Energy
(
Free Report)
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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Want to see what other hedge funds are holding FANG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondback Energy, Inc. (NASDAQ:FANG - Free Report).
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