Trivium Point Advisory LLC Takes $4.81 Million Position in Diamondback Energy, Inc. $FANG

Trivium Point Advisory LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,389 shares of the oil and natural gas company's stock, valued at approximately $4,814,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Cresset Asset Management LLC increased its holdings in Diamondback Energy by 37.5% during the 2nd quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company's stock worth $649,000 after purchasing an additional 1,288 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at about $2,301,000. Cerity Partners LLC lifted its holdings in shares of Diamondback Energy by 13.5% in the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company's stock valued at $7,022,000 after purchasing an additional 6,069 shares in the last quarter. AXA S.A. boosted its holdings in Diamondback Energy by 8.5% during the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company's stock worth $7,194,000 after purchasing an additional 4,103 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Diamondback Energy by 37.1% during the 2nd quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company's stock worth $21,239,000 after buying an additional 41,866 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FANG has been the subject of several research analyst reports. Jefferies Financial Group reiterated a "hold" rating and set a $205.00 target price on shares of Diamondback Energy in a research note on Sunday, August 9th. Wells Fargo & Company boosted their price target on Diamondback Energy from $262.00 to $263.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Susquehanna increased their price target on shares of Diamondback Energy from $245.00 to $255.00 and gave the stock a "positive" rating in a research report on Tuesday, July 21st. Sanford C. Bernstein boosted their price target on Diamondback Energy from $237.00 to $241.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Finally, Wall Street Zen upgraded Diamondback Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Diamondback Energy has an average rating of "Buy" and an average target price of $222.30.

Insider Buying and Selling

In other Diamondback Energy news, CAO Teresa L. Dick sold 7,000 shares of Diamondback Energy stock in a transaction dated 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 directly owned 85,755 shares of the company's stock, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles Alvin Meloy sold 83,334 shares of the company's 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 in the company, valued at $159,338,293.60. This trade represents a 8.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 134,167 shares of company stock valued at $25,749,309 in the last quarter. 0.64% of the stock is currently owned by company insiders.

Diamondback Energy Stock Performance

FANG opened at $202.47 on Monday. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. The firm has a market capitalization of $56.70 billion, a price-to-earnings ratio of 39.47 and a beta of 0.43. The company's 50 day moving average price is $190.31 and its two-hundred day moving average price is $187.74.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.08 by $0.40. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company's revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.38 earnings per share. As a group, research analysts predict that Diamondback Energy, Inc. will post 19.73 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 13th. Diamondback Energy's dividend payout ratio (DPR) is currently 85.77%.

Diamondback Energy 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source