Diamondback Energy, Inc. $FANG Shares Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Diamondback Energy by 279.3% in Q1, acquiring an additional 4,416 shares, bringing its total to 5,997 shares valued at approximately $959,000.
• Diamondback Energy reported earnings of $2.67 per share for the last quarter, missing estimates, but its revenue of $3.68 billion exceeded expectations.
• The company announced a quarterly dividend of $1.00 per share, reflecting an annualized yield of 2.7% with a payout ratio of 28.43%.

Ieq Capital LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 279.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,997 shares of the oil and natural gas company's stock after buying an additional 4,416 shares during the period. Ieq Capital LLC's holdings in Diamondback Energy were worth $959,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Boston Partners lifted its holdings in Diamondback Energy by 4.8% during the first quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company's stock valued at $861,961,000 after purchasing an additional 249,098 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Diamondback Energy by 2.3% during the first 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 purchasing an additional 94,177 shares in the last quarter. Demars Financial Group LLC lifted its holdings in Diamondback Energy by 5.3% during the first 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 purchasing an additional 208,200 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Diamondback Energy by 4.1% during the first 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 purchasing an additional 114,930 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Diamondback Energy by 27.3% during the first 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 purchasing an additional 418,431 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Buying and Selling

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction dated 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 transaction, the chairman directly owned 102,145 shares of the company's stock, valued at $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FANG. Susquehanna decreased their price objective on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. William Blair began coverage on shares of Diamondback Energy in a report on Monday, August 25th. They set an "outperform" rating on the stock. Wells Fargo & Company increased their price objective on shares of Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. KeyCorp decreased their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Wall Street Zen downgraded shares of Diamondback Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $193.17.

Diamondback Energy Trading Down 2.8%

FANG stock traded down $4.03 during trading on Friday, reaching $138.71. 1,993,976 shares of the stock were exchanged, compared to its average volume of 1,686,301. 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 has a 50 day moving average price of $142.93 and a 200-day moving average price of $142.77. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $200.47. The firm has a market capitalization of $40.16 billion, a price-to-earnings ratio of 9.86 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 EPS 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 firm had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period last year, the firm earned $4.52 earnings per share. Diamondback Energy's revenue for the quarter was up 48.1% on a year-over-year basis. On average, research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. Diamondback Energy's payout ratio is 28.43%.

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.