Pallas Capital Advisors LLC Has $2.73 Million Stock Position in Diamondback Energy, Inc. $FANG

Key Points

• Pallas Capital Advisors LLC has increased its stake in Diamondback Energy by 35.3%, acquiring an additional 5,188 shares, bringing its total holdings to 19,867 shares valued at approximately $2.73 million.
• Chairman Travis D. Stice sold 20,400 shares at $142.80 each, resulting in a 16.65% decrease in his ownership of Diamondback Energy stock.
• Diamondback Energy reported an EPS of $2.67 for the last quarter, missing analyst expectations and showing a 48.1% increase in revenue compared to the previous year.

Pallas Capital Advisors LLC grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 35.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,867 shares of the oil and natural gas company's stock after buying an additional 5,188 shares during the quarter. Pallas Capital Advisors LLC's holdings in Diamondback Energy were worth $2,730,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FANG. Boston Partners grew its position in shares of Diamondback Energy by 4.8% during the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company's stock valued at $861,961,000 after acquiring an additional 249,098 shares during the period. Bank of New York Mellon Corp raised its position in shares of Diamondback Energy by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after buying an additional 94,177 shares in the last quarter. Demars Financial Group LLC raised its position in Diamondback Energy by 5.3% in the 1st 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. raised its position in Diamondback Energy by 4.1% in the 1st 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 raised its position in Diamondback Energy by 27.3% in the 1st 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 at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the business's 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

Diamondback Energy Trading Down 0.7%

Shares of NASDAQ:FANG traded down $0.97 on Friday, reaching $139.67. 4,089,350 shares of the company traded hands, compared to its average volume of 1,830,844. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47. The stock has a market capitalization of $40.43 billion, a P/E ratio of 9.93 and a beta of 1.14. The business's 50-day simple moving average is $142.33 and its 200 day simple moving average is $141.75. 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 announced its earnings results 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). The business had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm's quarterly revenue was up 48.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.52 earnings per share. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on FANG shares. KeyCorp dropped their target price on shares of Diamondback Energy from $180.00 to $176.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 3rd. Wells Fargo & Company raised their target price 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. UBS Group raised their target price on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Scotiabank reaffirmed an "outperform" rating on shares of Diamondback Energy in a research note on Friday, July 11th. Finally, Raymond James Financial cut their target price on shares of Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $193.39.

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.