Swedbank AB Has $28.56 Million Stake in Diamondback Energy, Inc. $FANG

Key Points

• Swedbank AB increased its stake in Diamondback Energy, Inc. by 3.9%, holding a total of 207,823 shares valued at approximately $28.56 million.
• Diamondback Energy reported a net margin of 27.25% and revenue of $3.68 billion, exceeding analyst expectations, despite an EPS miss.
• The company recently declared a quarterly dividend of $1.00, resulting in an annual yield of 2.9% and a payout ratio of 28.43%.

Swedbank AB grew its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 3.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 207,823 shares of the oil and natural gas company's stock after buying an additional 7,732 shares during the period. Swedbank AB owned 0.07% of Diamondback Energy worth $28,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners grew its stake in shares of Diamondback Energy by 4.8% during the first quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company's stock worth $861,961,000 after purchasing an additional 249,098 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Diamondback Energy by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock worth $680,649,000 after purchasing an additional 94,177 shares during the period. Demars Financial Group LLC grew its stake in shares of Diamondback Energy by 5.3% during the first quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock worth $655,953,000 after purchasing an additional 208,200 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of Diamondback Energy by 4.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company's stock worth $468,846,000 after purchasing an additional 114,930 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Diamondback Energy by 27.3% during the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company's stock worth $311,792,000 after purchasing an additional 418,431 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FANG has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on Diamondback Energy from $184.00 to $186.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Mizuho reduced their target price on Diamondback Energy from $183.00 to $176.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Wall Street Zen lowered Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a report on Friday, July 11th. Finally, William Blair initiated coverage on Diamondback Energy in a report on Monday, August 25th. They set an "outperform" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $193.39.

Diamondback Energy Stock Down 0.7%

FANG traded down $0.97 on Friday, hitting $139.67. 4,089,350 shares of the company were exchanged, compared to its average volume of 1,830,844. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $200.47. The company has a market cap of $40.43 billion, a PE ratio of 9.93 and a beta of 1.14. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The stock's fifty day moving average is $142.33 and its 200-day moving average is $141.75.

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

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy's payout ratio is 28.43%.

Insiders Place Their Bets

In other Diamondback Energy 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 transaction of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares of the company's stock, valued at $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

About Diamondback Energy

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.