Hunter Perkins Capital Management LLC Takes Position in Diamondback Energy, Inc. $FANG

Hunter Perkins Capital Management LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,145 shares of the oil and natural gas company's stock, valued at approximately $1,669,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BankPlus Trust Department acquired a new stake in shares of Diamondback Energy during the 1st quarter valued at $27,000. Pinnacle Bancorp Inc. lifted its holdings in shares of Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock valued at $29,000 after purchasing an additional 88 shares during the last quarter. SouthState Corp boosted its position in shares of Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock valued at $31,000 after purchasing an additional 167 shares during the period. Grove Bank & Trust increased its stake in Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 80 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its stake in Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 109 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Up 3.0%

Shares of FANG stock opened at $147.47 on Monday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $200.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The stock has a market cap of $42.69 billion, a P/E ratio of 10.48 and a beta of 1.04. The stock has a fifty day moving average price of $142.86 and a 200 day moving average price of $141.41.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm's revenue for the quarter was up 48.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.52 earnings per share. 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 announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, August 14th. Diamondback Energy's dividend payout ratio is presently 28.43%.

Insiders Place Their Bets

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the transaction, the chairman directly owned 102,145 shares of the company's stock, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Diamondback Energy in a research note on Saturday, September 27th. Piper Sandler decreased their price objective on shares of Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. KeyCorp lowered their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 3rd. Morgan Stanley increased their target price on Diamondback Energy from $184.00 to $186.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Melius began coverage on Diamondback Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $213.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Diamondback Energy currently has an average rating of "Buy" and a consensus price target of $192.41.

Diamondback Energy Profile

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.

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