IFM Investors Pty Ltd Increases Position in Diamondback Energy, Inc. $FANG

Key Points

• IFM Investors Pty Ltd increased its holdings in Diamondback Energy by 4.4%, acquiring an additional 1,874 shares, resulting in a total of 44,775 shares worth $6,152,000.
• Diamondback Energy reported a quarterly revenue of $3.68 billion, exceeding analysts' expectations, although its earnings per share of $2.67 fell short of the consensus estimate of $2.72.
• The company recently announced a quarterly dividend of $1.00 per share, yielding 2.9%, reflecting a dividend payout ratio of 28.43%.

IFM Investors Pty Ltd raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,775 shares of the oil and natural gas company's stock after purchasing an additional 1,874 shares during the period. IFM Investors Pty Ltd's holdings in Diamondback Energy were worth $6,152,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group acquired a new position in Diamondback Energy in the second quarter valued at about $108,000. Moody National Bank Trust Division grew its holdings in Diamondback Energy by 32.2% during the 2nd quarter. Moody National Bank Trust Division now owns 40,211 shares of the oil and natural gas company's stock valued at $5,525,000 after buying an additional 9,786 shares in the last quarter. Security National Bank grew its holdings in Diamondback Energy by 1.2% during the 2nd quarter. Security National Bank now owns 28,951 shares of the oil and natural gas company's stock valued at $3,978,000 after buying an additional 334 shares in the last quarter. Atticus Wealth Management LLC bought a new stake in Diamondback Energy in the 2nd quarter worth approximately $296,000. Finally, Wedmont Private Capital lifted its position in Diamondback Energy by 3.0% in the second quarter. Wedmont Private Capital now owns 3,555 shares of the oil and natural gas company's stock valued at $505,000 after purchasing an additional 105 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Up 2.7%

Shares of Diamondback Energy stock traded up $3.70 during trading on Tuesday, hitting $142.53. 1,185,593 shares of the stock traded hands, compared to its average volume of 2,380,761. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $200.47. The stock has a market cap of $41.26 billion, a P/E ratio of 10.15 and a beta of 1.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The company has a fifty day moving average price of $142.27 and a two-hundred day moving average price of $141.76.

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 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period last year, the company earned $4.52 earnings per share. The business's revenue was up 48.1% compared to the same quarter last year. Equities research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group upped their price target on Diamondback Energy from $163.00 to $171.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Raymond James Financial decreased their price target on Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating for the company in a research note on Wednesday, August 20th. Morgan Stanley boosted their target price on Diamondback Energy from $184.00 to $186.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Wells Fargo & Company boosted their price objective on Diamondback Energy from $210.00 to $211.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Melius Research began coverage on Diamondback Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $193.39.

Insider Activity

In related news, Chairman Travis D. Stice sold 20,400 shares of the business's stock in a transaction that occurred on 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 owned 102,145 shares in the company, valued at $14,586,306. The trade was a 16.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.48% of the company's stock.

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.