Ilmarinen Mutual Pension Insurance Co Acquires 10,500 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Ilmarinen Mutual Pension Insurance Co increased its stake in Diamondback Energy by 28.0%, acquiring an additional 10,500 shares, bringing its total to 48,000 shares valued at approximately $7.67 million.
• Diamondback Energy reported $3.68 billion in revenue for the latest quarter, exceeding analyst expectations, despite an earnings per share of $2.67 which missed the consensus estimate.
• The company recently declared a quarterly dividend of $1.00 per share, translating to an annual yield of 2.9% and a payout ratio of 28.43%.

Ilmarinen Mutual Pension Insurance Co raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 28.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 48,000 shares of the oil and natural gas company's stock after acquiring an additional 10,500 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Diamondback Energy were worth $7,674,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alaethes Wealth LLC increased its position in shares of Diamondback Energy by 5.4% in the 1st quarter. Alaethes Wealth LLC now owns 9,378 shares of the oil and natural gas company's stock valued at $1,499,000 after buying an additional 479 shares in the last quarter. SCS Capital Management LLC bought a new stake in shares of Diamondback Energy in the 1st quarter valued at $1,188,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Diamondback Energy by 0.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 798,844 shares of the oil and natural gas company's stock valued at $127,719,000 after buying an additional 4,236 shares in the last quarter. MBB Public Markets I LLC bought a new position in Diamondback Energy during the 1st quarter worth about $324,000. Finally, United Services Automobile Association bought a new position in Diamondback Energy during the 1st quarter worth about $657,000. Institutional investors own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction that occurred on 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 transaction, the chairman directly owned 102,145 shares of the company's stock, valued at $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.48% of the stock is owned by company insiders.

Diamondback Energy Trading Down 0.7%

Shares of NASDAQ:FANG opened at $136.29 on Wednesday. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $200.47. The company has a market capitalization of $39.45 billion, a P/E ratio of 9.69 and a beta of 1.14. The company has a 50-day simple moving average of $142.85 and a 200 day simple moving average of $142.46. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter last year, the business earned $4.52 earnings per share. The company's revenue was up 48.1% on a year-over-year basis. Sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FANG shares. UBS Group increased their target price on Diamondback Energy from $163.00 to $171.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Susquehanna lowered their target price on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. William Blair started coverage on Diamondback Energy in a report on Monday, August 25th. They set an "outperform" rating for the company. Melius Research began coverage on Diamondback Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $213.00 target price for the company. Finally, Bank of America increased their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $193.17.

Diamondback Energy Company 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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.