Jeppson Wealth Management LLC Invests $262,000 in Diamondback Energy, Inc. $FANG

Key Points

• Jeppson Wealth Management LLC invested approximately $262,000 in Diamondback Energy, acquiring 1,904 shares in the second quarter.
• Hedge funds and institutional investors now own 90.01% of Diamondback Energy, with significant investments made by Nuveen LLC and GAMMA Investing LLC recently.
• Diamondback Energy reported quarterly earnings of $2.67 EPS, missing estimates, but had a net margin of 27.25% and revenue growth of 48.1% year-over-year.

Jeppson Wealth Management LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,904 shares of the oil and natural gas company's stock, valued at approximately $262,000.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Diamondback Energy in the 1st quarter valued at $230,039,000. GAMMA Investing LLC lifted its position in Diamondback Energy by 16,197.8% in the first quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock valued at $96,827,000 after acquiring an additional 601,909 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Diamondback Energy in the first quarter valued at $77,622,000. Wellington Management Group LLP grew its holdings in shares of 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 worth $311,792,000 after purchasing an additional 418,431 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Diamondback Energy by 50.6% during the first quarter. Victory Capital Management Inc. now owns 1,135,759 shares of the oil and natural gas company's stock worth $181,585,000 after purchasing an additional 381,542 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Buying and Selling

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on 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 sale, the chairman owned 102,145 shares of the company's stock, 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 accessible through the SEC website. Company insiders own 0.70% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $144.61 on Thursday. The firm has a 50-day moving average price of $142.51 and a two-hundred day moving average price of $141.78. The company has a market capitalization of $41.86 billion, a P/E ratio of 10.28 and a beta of 1.14. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $200.47. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm's revenue was up 48.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.52 EPS. As a group, research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Thursday, August 14th. Diamondback Energy's payout ratio is currently 28.43%.

Analyst Ratings Changes

FANG has been the topic of several research analyst reports. William Blair initiated coverage on Diamondback Energy in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Morgan Stanley lifted their target price on shares of Diamondback Energy from $184.00 to $186.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Wall Street Zen cut shares of Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Piper Sandler decreased their target price on shares of Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Finally, KeyCorp lowered their price target on Diamondback Energy from $180.00 to $176.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $193.39.

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.

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