RR Advisors LLC Reduces Stock Position in Diamondback Energy, Inc. $FANG

Key Points

• RR Advisors LLC has reduced its stake in Diamondback Energy, Inc. by 40.7%, selling 11,000 shares and now holding a total of 16,000 shares.
• Diamondback Energy reported a quarterly EPS of $2.67, missing the analysts' expectations, but had a 48.1% increase in revenue compared to the same quarter last year.
• The company has announced a quarterly dividend of $1.00 per share, yielding 2.8%, with the dividend payout ratio currently at 28.43%.

RR Advisors LLC lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 40.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,000 shares of the oil and natural gas company's stock after selling 11,000 shares during the period. Diamondback Energy accounts for 0.6% of RR Advisors LLC's portfolio, making the stock its 22nd largest holding. RR Advisors LLC's holdings in Diamondback Energy were worth $2,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. raised its position in shares of Diamondback Energy by 4.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock valued at $5,784,000 after acquiring an additional 1,384 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Diamondback Energy by 6.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock valued at $9,409,000 after acquiring an additional 3,467 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Diamondback Energy by 50.4% in the 1st 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 during the period. True North Advisors LLC acquired a new position in shares of Diamondback Energy in the 1st quarter valued at $327,000. Finally, Wealth Advisory Solutions LLC acquired a new position in shares of Diamondback Energy in the 1st quarter valued at $2,631,000. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

Diamondback Energy stock traded down $0.55 during trading hours on Friday, hitting $140.22. The company had a trading volume of 1,889,655 shares, compared to its average volume of 2,067,470. The firm has a market cap of $40.59 billion, a PE ratio of 9.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $200.47. The firm has a 50-day moving average of $143.65 and a 200 day moving average of $144.39.

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

Diamondback Energy Announces Dividend

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

Analyst Upgrades and Downgrades

FANG has been the subject of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a report on Thursday. Evercore ISI assumed coverage on shares of Diamondback Energy in a research note on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 target price for the company. Barclays reduced their target price on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, Piper Sandler reissued an "overweight" rating and set a $222.00 price target (down from $228.00) on shares of Diamondback Energy in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $191.45.

Insider Buying and Selling

In other news, Chairman Travis D. Stice sold 20,400 shares of the business'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 transaction, the chairman owned 102,145 shares in the company, valued at $14,586,306. The trade was a 16.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.48% of the company's stock.

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.