QRG Capital Management Inc. Has $474,000 Stock Holdings in Diamondback Energy, Inc. $FANG

Key Points

• QRG Capital Management Inc. decreased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 72.3%, holding 3,450 shares worth $474,000 after selling 9,011 shares in the 2nd quarter.
• Diamondback Energy recently announced a quarterly dividend of $1.00 per share, equating to an annualized dividend of $4.00 and a dividend yield of 2.9%.
• Despite missing earnings estimates of $2.72 per share, Diamondback Energy reported a revenue of $3.68 billion, surpassing analyst expectations of $3.35 billion.

QRG Capital Management Inc. decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 72.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,450 shares of the oil and natural gas company's stock after selling 9,011 shares during the quarter. QRG Capital Management Inc.'s holdings in Diamondback Energy were worth $474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FANG. UMB Bank n.a. raised its stake in Diamondback Energy by 172.8% in the 1st quarter. UMB Bank n.a. now owns 521 shares of the oil and natural gas company's stock worth $83,000 after purchasing an additional 330 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Diamondback Energy by 36.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,085 shares of the oil and natural gas company's stock worth $174,000 after purchasing an additional 287 shares in the last quarter. Integrated Advisors Network LLC raised its stake in Diamondback Energy by 7.2% in the 1st quarter. Integrated Advisors Network LLC now owns 2,800 shares of the oil and natural gas company's stock worth $448,000 after purchasing an additional 187 shares in the last quarter. CX Institutional acquired a new stake in Diamondback Energy in the 1st quarter worth about $502,000. Finally, Simon Quick Advisors LLC raised its stake in Diamondback Energy by 8.7% in the 1st quarter. Simon Quick Advisors LLC now owns 1,339 shares of the oil and natural gas company's stock worth $214,000 after purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Trading Down 3.0%

Shares of NASDAQ FANG opened at $139.82 on Friday. 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 52-week low of $114.00 and a 52-week high of $196.00. The firm has a 50 day moving average price of $142.51 and a two-hundred day moving average price of $141.18. The stock 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 announced its quarterly 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). 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 quarter last year, the company posted $4.52 earnings per share. The company's revenue was up 48.1% compared to the same quarter last year. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

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

Insider Activity at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the company's stock in a transaction 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 sale, the chairman directly owned 102,145 shares of the company's stock, valued at approximately $14,586,306. This represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Evercore ISI lifted their price objective on shares of Diamondback Energy from $165.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, October 6th. KeyCorp decreased their price objective 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. Mizuho decreased their price objective on shares of Diamondback Energy from $183.00 to $176.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. UBS Group lifted their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Finally, Susquehanna decreased their price objective on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $192.32.

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.

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