Talon Private Wealth LLC Boosts Stake in Diamondback Energy, Inc. $FANG

Key Points

• Talon Private Wealth LLC increased its stake in Diamondback Energy by 4,756.5%, gaining an additional 15,316 shares, resulting in holdings valued at approximately $2.5 million.
• Diamondback Energy's latest earnings report revealed earnings per share of $2.67, which missed analysts' expectations by $0.05, although revenue was up by 48.1% year-over-year.
• The company declared a $1.00 quarterly dividend, equivalent to a 2.9% yield, with a current payout ratio of 28.43%.

Talon Private Wealth LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4,756.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,638 shares of the oil and natural gas company's stock after purchasing an additional 15,316 shares during the quarter. Talon Private Wealth LLC's holdings in Diamondback Energy were worth $2,502,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its stake 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 worth $5,784,000 after acquiring an additional 1,384 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake 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 worth $9,409,000 after acquiring an additional 3,467 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Diamondback Energy by 50.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company's stock worth $1,143,000 after acquiring an additional 2,397 shares in the last quarter. True North Advisors LLC purchased a new stake in shares of Diamondback Energy during the 1st quarter worth about $327,000. Finally, Wealth Advisory Solutions LLC purchased a new stake in shares of Diamondback Energy during the 1st quarter worth about $2,631,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Down 0.7%

Shares of NASDAQ FANG traded down $0.99 during midday trading on Tuesday, reaching $136.29. 2,147,893 shares of the stock were exchanged, compared to its average volume of 1,652,203. The company has a 50 day simple moving average of $142.85 and a 200 day simple moving average of $142.46. The stock has a market capitalization of $39.45 billion, a P/E ratio of 9.69 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. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $200.47.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly 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). The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The firm's quarterly revenue was up 48.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.52 EPS. As a group, equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on FANG. Melius began coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $213.00 target price on the stock. Mizuho lowered their target price on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Susquehanna lowered their target price on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Bank of America raised their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, William Blair started coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They issued an "outperform" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $193.17.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the sale, the chairman owned 102,145 shares in the company, valued at $14,586,306. This trade represents 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. 0.48% of the stock is owned by corporate 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.