Sei Investments Co. Purchases 9,867 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Sei Investments increased its Diamondback Energy stake by 7.5% in the first quarter, adding 9,867 shares to own 140,846 shares valued at approximately $27.9 million. Institutional investors collectively hold 90.01% of the company.
• Diamondback reported quarterly EPS of $4.23, beating estimates of $3.74, while revenue rose 4.7% year over year to $4.24 billion. The company also raised its quarterly dividend to $1.10 per share, equal to a 2.2% annualized yield.
• Analysts maintain a generally positive view, with the stock carrying an average “Buy” rating and a consensus price target of $218.68 versus a reported share price of $195.80. However, insiders sold 113,691 shares worth about $21.6 million over the past 90 days.

Sei Investments Co. grew its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,846 shares of the oil and natural gas company's stock after acquiring an additional 9,867 shares during the quarter. Sei Investments Co. owned about 0.05% of Diamondback Energy worth $27,858,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new position in Diamondback Energy during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. lifted its stake in Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company's stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $26,000. Cedar Mountain Advisors LLC purchased a new position in shares of Diamondback Energy during the first quarter valued at approximately $26,000. Finally, JPL Wealth Management LLC bought a new position in shares of Diamondback Energy during the third quarter valued at approximately $26,000. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $195.80 on Tuesday. The firm's 50 day simple moving average is $191.22 and its 200-day simple moving average is $183.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51. The firm has a market cap of $55.08 billion, a PE ratio of 227.68 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the business earned $4.54 earnings per share. Diamondback Energy's quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Diamondback Energy, Inc. will post 18.9 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a dividend of $1.10 per share. This is a boost from Diamondback Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy's dividend payout ratio is presently 511.63%.

Insider Transactions at Diamondback Energy

In other news, CAO Teresa L. Dick sold 7,000 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the transaction, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles Alvin Meloy sold 83,334 shares of Diamondback Energy stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total value of $15,593,458.08. Following the completion of the sale, the director owned 851,530 shares of the company's stock, valued at $159,338,293.60. The trade was a 8.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 113,691 shares of company stock valued at $21,622,752 over the last 90 days. 0.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FANG. Wells Fargo & Company set a $212.00 price target on Diamondback Energy in a report on Monday, June 22nd. Barclays boosted their price objective on Diamondback Energy from $225.00 to $232.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Citigroup cut their price objective on Diamondback Energy from $245.00 to $221.00 and set a "buy" rating on the stock in a research report on Monday, July 20th. Scotiabank increased their target price on Diamondback Energy from $175.00 to $195.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings downgraded Diamondback Energy from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, July 16th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $218.68.

Diamondback Energy Company Profile

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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