Inspire Investing LLC Grows Stock Holdings in Diamondback Energy, Inc. $FANG

Key Points

• Inspire Investing LLC increased its stake in Diamondback Energy, Inc. by 10.1%, acquiring a total of 44,646 shares valued at approximately $6.13 million.
• Insider transactions revealed that Chairman Travis D. Stice sold 20,400 shares for over $2.9 million, reducing his ownership by 16.65%.
• Analysts generally maintain a positive outlook for Diamondback Energy, with two "Strong Buy," twenty "Buy," and one "Hold" ratings, predicting a consensus price target of $192.32.

Inspire Investing LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 10.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,646 shares of the oil and natural gas company's stock after purchasing an additional 4,098 shares during the period. Diamondback Energy comprises approximately 0.7% of Inspire Investing LLC's portfolio, making the stock its 22nd largest position. Inspire Investing LLC's holdings in Diamondback Energy were worth $6,134,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Diamondback Energy by 172.8% during the first quarter. UMB Bank n.a. now owns 521 shares of the oil and natural gas company's stock worth $83,000 after purchasing an additional 330 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Diamondback Energy by 36.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,085 shares of the oil and natural gas company's stock worth $174,000 after buying an additional 287 shares during the last quarter. Integrated Advisors Network LLC grew its stake in Diamondback Energy by 7.2% during the 1st quarter. Integrated Advisors Network LLC now owns 2,800 shares of the oil and natural gas company's stock worth $448,000 after buying an additional 187 shares during the last quarter. CX Institutional purchased a new position in Diamondback Energy during the 1st quarter worth approximately $502,000. Finally, Simon Quick Advisors LLC grew its stake in Diamondback Energy by 8.7% during the 1st quarter. Simon Quick Advisors LLC now owns 1,339 shares of the oil and natural gas company's stock worth $214,000 after buying an additional 107 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the company's 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 in the company, valued at approximately $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research reports. Raymond James Financial dropped their price target on Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, August 20th. Melius began coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price objective on the stock. Mizuho dropped their price objective on shares of Diamondback Energy from $183.00 to $176.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Wells Fargo & Company lifted their price objective on shares of Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Diamondback Energy in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $192.32.

Diamondback Energy Trading Down 3.0%

Shares of Diamondback Energy stock opened at $139.82 on Friday. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $196.00. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The company's 50-day simple moving average is $142.51 and its 200-day simple moving average is $141.18. The firm has a market cap of $40.48 billion, a price-to-earnings ratio of 9.94 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (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 analyst estimates of $3.35 billion. During the same quarter last year, the firm earned $4.52 earnings per share. The company's revenue was up 48.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

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

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.

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