Robinhood Asset Management LLC Purchases New Shares in Diamondback Energy, Inc. $FANG

Key Points

• Robinhood Asset Management purchased 64,326 shares of Diamondback Energy, valued at approximately $11.3 million. Institutional investors collectively own 90.01% of the company.
• Analysts maintain a broadly positive outlook, with Diamondback receiving a “Moderate Buy” consensus rating and an average price target of $222.21.
• Diamondback beat quarterly expectations with $6.48 in EPS and $5.56 billion in revenue, while declaring a $1.10 quarterly dividend, equivalent to a 2.1% yield.

Robinhood Asset Management LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 64,326 shares of the oil and natural gas company's stock, valued at approximately $11,307,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FANG. Laurel Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the 4th quarter worth approximately $26,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new stake in shares of Diamondback Energy in the third quarter valued at approximately $26,000. Wellington Shields & Co. LLC boosted its stake in shares of Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock valued at $28,000 after buying an additional 135 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Diamondback Energy in the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on FANG shares. Citigroup lowered their price objective on Diamondback Energy from $221.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Wolfe Research reiterated an "outperform" rating and set a $206.00 target price on shares of Diamondback Energy in a research report on Tuesday, August 4th. Susquehanna increased their target price on Diamondback Energy from $245.00 to $255.00 and gave the stock a "positive" rating in a report on Tuesday, July 21st. Barclays decreased their price target on Diamondback Energy from $232.00 to $221.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Mizuho boosted their price target on Diamondback Energy from $220.00 to $240.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Diamondback Energy has an average rating of "Moderate Buy" and an average price target of $222.21.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $210.72 on Friday. The company's 50 day simple moving average is $191.79 and its 200 day simple moving average is $189.22. The stock has a market capitalization of $59.01 billion, a price-to-earnings ratio of 41.08 and a beta of 0.43. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $216.90.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company's revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.38 earnings per share. As a group, research analysts predict that Diamondback Energy, Inc. will post 19.78 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. Diamondback Energy's payout ratio is 85.77%.

Insiders Place Their Bets

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the transaction, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Lawrence Plaumann sold 500 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director directly owned 13,437 shares of the company's stock, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 129,167 shares of company stock valued at $24,714,309 in the last quarter. Corporate insiders own 0.64% of the company's stock.

About Diamondback Energy

Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.

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