Diamondback Energy, Inc. (NASDAQ:FANG) Position Raised by National Pension Service

Key Points

• The National Pension Service increased its holdings in Diamondback Energy by 5% in the first quarter, now owning approximately $53.74 million worth of shares.
• Diamondback Energy's recent quarterly earnings report showed earnings of $2.67 per share, missing expectations, while revenue rose to $3.68 billion, surpassing estimates.
• The firm announced a quarterly dividend of $1.00 per share, representing an annualized yield of 2.8%, with a payout ratio of 28.43%.

National Pension Service raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 336,126 shares of the oil and natural gas company's stock after purchasing an additional 16,129 shares during the quarter. National Pension Service owned about 0.12% of Diamondback Energy worth $53,740,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FANG. Mariner LLC grew its stake in shares of Diamondback Energy by 8.0% during the fourth quarter. Mariner LLC now owns 53,240 shares of the oil and natural gas company's stock valued at $8,722,000 after acquiring an additional 3,962 shares in the last quarter. United Capital Financial Advisors LLC grew its stake in Diamondback Energy by 1.7% in the fourth quarter. United Capital Financial Advisors LLC now owns 7,126 shares of the oil and natural gas company's stock worth $1,167,000 after purchasing an additional 118 shares in the last quarter. NewEdge Advisors LLC grew its stake in Diamondback Energy by 30.5% in the fourth quarter. NewEdge Advisors LLC now owns 37,347 shares of the oil and natural gas company's stock worth $6,118,000 after purchasing an additional 8,737 shares in the last quarter. Demars Financial Group LLC acquired a new position in Diamondback Energy in the fourth quarter worth about $638,050,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in Diamondback Energy by 2.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 123,249 shares of the oil and natural gas company's stock worth $20,181,000 after purchasing an additional 3,057 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on FANG. Bank of America lifted their price target on Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a research note on Friday, July 11th. JPMorgan Chase & Co. decreased their price target on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Raymond James Financial lifted their price target on Diamondback Energy from $204.00 to $221.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company lifted their price target on Diamondback Energy from $210.00 to $211.00 and gave the stock an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $191.45.

Diamondback Energy Stock Performance

Shares of FANG traded down $0.55 during mid-day trading on Friday, reaching $140.22. 1,889,655 shares of the company's stock traded hands, compared to its average volume of 2,092,406. The business's 50-day moving average price is $143.65 and its 200-day moving average price is $144.58. The stock has a market capitalization of $40.59 billion, a P/E ratio of 9.97 and a beta of 1.09. 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, Inc. has a 12 month low of $114.00 and a 12 month 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 analysts' consensus estimates of $2.72 by ($0.05). The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business's quarterly revenue was up 48.1% on a year-over-year basis. During the same period last year, the firm posted $4.52 EPS. Equities analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, August 14th. Diamondback Energy's payout ratio is 28.43%.

Insider Buying and Selling at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy 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 sale, the chairman owned 102,145 shares of the company's stock, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. 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 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.