Pandora Wealth Inc. Makes New $520,000 Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• Pandora Wealth Inc. has made a new investment of $520,000 in Diamondback Energy, acquiring 3,254 shares according to its recent SEC filing.
• Diamondback Energy recently reported quarterly earnings with an EPS of $2.67, missing the consensus estimate by $0.05, despite revenue exceeding expectations at $3.68 billion.
• The company announced a quarterly dividend of $1.00 per share, which translates to an annual yield of 2.8%, with a payout ratio of 28.43%.

Pandora Wealth Inc. bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,254 shares of the oil and natural gas company's stock, valued at approximately $520,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its position in Diamondback Energy by 4.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock worth $5,784,000 after purchasing an additional 1,384 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Diamondback Energy by 6.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock worth $9,409,000 after purchasing an additional 3,467 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Diamondback Energy by 50.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company's stock valued at $1,143,000 after buying an additional 2,397 shares in the last quarter. Wealth Advisory Solutions LLC bought a new position in shares of Diamondback Energy in the first quarter valued at $2,631,000. Finally, Requisite Capital Management LLC increased its holdings in shares of Diamondback Energy by 501.7% in the first quarter. Requisite Capital Management LLC now owns 59,281 shares of the oil and natural gas company's stock valued at $9,478,000 after buying an additional 49,428 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 0.6%

Diamondback Energy stock opened at $142.03 on Friday. The company's fifty day simple moving average is $143.67 and its 200-day simple moving average is $145.94. The company has a quick ratio of 0.83, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $202.87. The stock has a market cap of $41.12 billion, a P/E ratio of 10.09 and a beta of 1.09.

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

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, August 14th. Diamondback Energy's dividend payout ratio is presently 28.43%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Wells Fargo & Company upped their price target on Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Bank of America upped their price target on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Royal Bank Of Canada assumed coverage on Diamondback Energy in a report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price target on the stock. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Diamondback Energy currently has an average rating of "Moderate Buy" and an average target price of $191.59.

Insider Buying and Selling

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, the president directly owned 120,645 shares of the company's stock, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is owned by insiders.

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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