Stephens Investment Management Group LLC Has $9.88 Million Stake in Diamondback Energy, Inc. $FANG

Key Points

• Stephens Investment Management Group LLC reduced its stake in Diamondback Energy by 23.1%, now holding shares valued at approximately $9.88 million.
• Diamondback Energy's latest quarterly earnings showed a missed EPS estimate at $2.67, though revenue was up significantly by 48.1% year-over-year.
• The company recently announced a $1.00 quarterly dividend, with a dividend yield of 2.8% and a payout ratio of 28.43%.

Stephens Investment Management Group LLC trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 23.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,931 shares of the oil and natural gas company's stock after selling 21,659 shares during the period. Stephens Investment Management Group LLC's holdings in Diamondback Energy were worth $9,883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PFG Investments LLC grew its stake in shares of Diamondback Energy by 15.0% in the first quarter. PFG Investments LLC now owns 2,328 shares of the oil and natural gas company's stock valued at $372,000 after acquiring an additional 303 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Diamondback Energy by 20.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,551 shares of the oil and natural gas company's stock worth $5,044,000 after acquiring an additional 5,371 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Diamondback Energy by 4.9% in the first quarter. Asset Management One Co. Ltd. now owns 76,887 shares of the oil and natural gas company's stock worth $12,293,000 after acquiring an additional 3,578 shares during the last quarter. Legacy Advisors LLC lifted its holdings in shares of Diamondback Energy by 7.8% in the first quarter. Legacy Advisors LLC now owns 1,692 shares of the oil and natural gas company's stock worth $271,000 after acquiring an additional 123 shares during the last quarter. Finally, Balboa Wealth Partners lifted its holdings in shares of Diamondback Energy by 12.8% in the first quarter. Balboa Wealth Partners now owns 1,786 shares of the oil and natural gas company's stock worth $286,000 after acquiring an additional 202 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy 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 completion of the sale, the chairman owned 102,145 shares of the company's stock, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by corporate insiders.

Diamondback Energy Stock Up 0.5%

Diamondback Energy stock opened at $142.28 on Thursday. The firm has a 50 day moving average price of $142.37 and a two-hundred day moving average price of $140.50. The firm has a market cap of $41.19 billion, a price-to-earnings ratio of 10.11 and a beta of 1.04. 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 $186.07.

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 the consensus estimate of $2.72 by ($0.05). The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business's revenue was up 48.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.52 EPS. Equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business 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. The ex-dividend date was Thursday, August 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. Diamondback Energy's payout ratio is currently 28.43%.

Analysts Set New Price Targets

FANG has been the subject of a number of research reports. Barclays dropped their target price on shares of Diamondback Energy from $185.00 to $178.00 and set an "overweight" rating for the company in a report on Tuesday, October 7th. Evercore ISI increased their target price on shares of Diamondback Energy from $165.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday, October 6th. Susquehanna dropped their price objective on shares of Diamondback Energy to $188.00 and set a "positive" rating for the company in a report on Monday. KeyCorp dropped their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Finally, Melius assumed coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $189.91.

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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