Prime Capital Investment Advisors LLC Purchases Shares of 1,837 Diamondback Energy, Inc. $FANG

Key Points

• Prime Capital Investment Advisors LLC acquired a stake in Diamondback Energy, purchasing 1,837 shares valued at approximately $252,000.
• Diamondback Energy's stock has seen a 3.0% decline recently, with a current price of $139.82, amid notable earnings reports and institutional activity.
• The company declared a quarterly dividend of $1.00, which results in an annual yield of 2.9%.

Prime Capital Investment Advisors LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,837 shares of the oil and natural gas company's stock, valued at approximately $252,000.

Other institutional investors have also recently modified their holdings of the company. BankPlus Trust Department purchased a new position in shares of Diamondback Energy in the first quarter worth about $27,000. Pinnacle Bancorp Inc. raised its stake in shares of Diamondback Energy by 95.7% in the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after purchasing an additional 88 shares during the last quarter. SouthState Corp raised its stake in shares of Diamondback Energy by 596.4% in the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock worth $31,000 after purchasing an additional 167 shares during the last quarter. WASHINGTON TRUST Co raised its stake in shares of Diamondback Energy by 119.8% in the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 109 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Diamondback Energy by 65.0% in the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 80 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 3.0%

Shares of FANG opened at $139.82 on Monday. 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, Inc. has a 12 month low of $114.00 and a 12 month high of $196.00. The stock's 50 day moving average is $142.51 and its two-hundred day moving average is $140.89. The firm has a market cap of $40.48 billion, a P/E ratio of 9.94 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the business posted $4.52 earnings per share. The firm's revenue for the quarter was up 48.1% on a year-over-year basis. Analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

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

Insider Buying and Selling

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the sale, the chairman directly owned 102,145 shares of the company's stock, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FANG. Melius began coverage on Diamondback Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price objective for the company. Weiss Ratings restated a "hold (c-)" rating on shares of Diamondback Energy in a research note on Wednesday, October 8th. Melius Research began coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $213.00 price target for the company. Wells Fargo & Company lifted their price target on Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen cut Diamondback Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of "Buy" and an average price target of $192.32.

Diamondback Energy Company 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.

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