Interval Partners LP Buys 25,027 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Interval Partners LP increased its stake in Diamondback Energy, Inc. by 89.8% in the first quarter, now holding 52,910 shares worth approximately $8.46 million.
• Diamondback Energy reported earnings of $2.67 per share, missing analysts' expectations of $2.72, but showed a significant 48.1% year-over-year revenue growth with earnings for the quarter totaling $3.68 billion.
• The company announced a quarterly dividend of $1.00 per share, translating to an annual yield of 2.8%, with a current dividend payout ratio of 28.43%.

Interval Partners LP lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 89.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,910 shares of the oil and natural gas company's stock after buying an additional 25,027 shares during the quarter. Interval Partners LP's holdings in Diamondback Energy were worth $8,459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Partners lifted its holdings in shares of 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 worth $861,961,000 after buying an additional 249,098 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $680,649,000 after buying an additional 94,177 shares in the last quarter. Demars Financial Group LLC increased its position in shares of Diamondback Energy by 5.3% in the first quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock worth $655,953,000 after purchasing an additional 208,200 shares during the period. Diamond Hill Capital Management Inc. increased its position in shares of Diamondback Energy by 4.1% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company's stock worth $468,846,000 after purchasing an additional 114,930 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Diamondback Energy by 27.3% in the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company's stock worth $311,792,000 after purchasing an additional 418,431 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Activity

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.48% of the company's stock.

Diamondback Energy Price Performance

NASDAQ FANG traded up $3.06 during trading on Wednesday, hitting $139.35. 691,891 shares of the company's stock were exchanged, compared to its average volume of 2,377,014. The company has a market cap of $40.34 billion, a PE ratio of 9.90 and a beta of 1.14. 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 stock's 50 day moving average price is $142.85 and its two-hundred day moving average price is $142.46. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $200.47.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.05). The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business's revenue for the quarter was up 48.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.52 earnings per share. Research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FANG shares. William Blair started coverage on Diamondback Energy in a research report on Monday, August 25th. They issued an "outperform" rating on the stock. Piper Sandler decreased their price target on Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating on the stock in a research report on Thursday, August 14th. Melius Research began coverage on Diamondback Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $213.00 target price for the company. Susquehanna cut their target price on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Finally, Raymond James Financial cut their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of "Buy" and an average target price of $193.17.

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.