Robeco Institutional Asset Management B.V. Grows Position in Diamondback Energy, Inc. $FANG

Key Points

• Robeco Institutional Asset Management B.V. increased its position in Diamondback Energy, Inc. by 12.0% during Q2, now holding 40,517 shares valued at about $5.57 million.
• The company recently reported a quarterly earnings per share of $2.67, missing estimates by $0.05, while revenue exceeded expectations at $3.68 billion.
• Diamondback Energy declared a quarterly dividend of $1.00 per share, resulting in a 2.7% dividend yield, with a payout ratio of 28.43%.

Robeco Institutional Asset Management B.V. grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 12.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,517 shares of the oil and natural gas company's stock after acquiring an additional 4,340 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Diamondback Energy were worth $5,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FANG. BankPlus Trust Department purchased a new position in Diamondback Energy during the first quarter worth about $27,000. Pinnacle Bancorp Inc. lifted its position in shares of Diamondback Energy by 95.7% during the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after buying an additional 88 shares in the last quarter. SouthState Corp boosted its stake in shares of Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock worth $31,000 after buying an additional 167 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after buying an additional 80 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its holdings 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 valued at $32,000 after acquiring an additional 109 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $149.10 on Tuesday. The firm's 50 day moving average is $142.83 and its 200 day moving average is $141.34. The stock has a market capitalization of $43.16 billion, a P/E ratio of 10.60 and a beta of 1.04. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $200.47. 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 released its quarterly earnings data 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 during 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.52 earnings per share. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, August 14th. Diamondback Energy's payout ratio is presently 28.43%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chairman owned 102,145 shares in the company, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FANG. Raymond James Financial decreased their target price on Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating for the company in a research report on Wednesday, August 20th. Evercore ISI raised their price objective on shares of Diamondback Energy from $165.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday. William Blair began coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They issued an "outperform" rating on the stock. Mizuho reduced their target price on shares of Diamondback Energy from $183.00 to $176.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Finally, Susquehanna lowered their price target on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a report 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 given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $192.86.

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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