Two Sigma Securities LLC Sells 7,467 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Two Sigma Securities cut its Diamondback Energy stake by 74.3% in the second quarter, selling 7,467 shares and retaining 2,589 shares worth approximately $455,000. Institutional investors and hedge funds collectively own 90.01% of FANG.
• Diamondback Energy reported quarterly EPS of $6.48, exceeding estimates of $6.08, while revenue rose 51.2% year over year to $5.56 billion. The company also paid a quarterly dividend of $1.10 per share, equivalent to a 2.2% annualized yield.
• Analysts maintain a generally positive outlook, with FANG receiving a consensus rating of “Moderate Buy” and an average price target of $222.21, compared with its reported share price of $203.42.

Two Sigma Securities LLC trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 74.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,589 shares of the oil and natural gas company's stock after selling 7,467 shares during the period. Two Sigma Securities LLC's holdings in Diamondback Energy were worth $455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FANG. Cresset Asset Management LLC lifted its stake in shares of Diamondback Energy by 37.5% in the second quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company's stock worth $649,000 after acquiring an additional 1,288 shares during the period. Jump Financial LLC bought a new position in Diamondback Energy during the 2nd quarter worth approximately $2,301,000. Cerity Partners LLC raised its holdings in Diamondback Energy by 13.5% during the 2nd quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company's stock worth $7,022,000 after purchasing an additional 6,069 shares during the last quarter. AXA S.A. lifted its position in shares of Diamondback Energy by 8.5% in the 2nd 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 period. Finally, Sei Investments Co. lifted its position in shares of Diamondback Energy by 37.1% in 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 purchasing an additional 41,866 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $203.42 on Thursday. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $216.90. The company has a fifty day moving average of $194.21 and a 200-day moving average of $191.41. The firm has a market capitalization of $56.96 billion, a P/E ratio of 39.65 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. Diamondback Energy's revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.38 earnings per share. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 20.13 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy's dividend payout ratio is 85.77%.

Insider Transactions at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 83,334 shares of the business's stock in a transaction dated Tuesday, June 16th. The stock was 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 directly owned 851,530 shares of the company's stock, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director directly owned 13,437 shares in the company, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 117,167 shares of company stock worth $22,305,309 in the last three months. Insiders own 0.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FANG. Jefferies Financial Group reiterated a "hold" rating and set a $205.00 price objective on shares of Diamondback Energy in a research report on Sunday, August 9th. Barclays dropped their target price on shares of Diamondback Energy from $232.00 to $221.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. Wells Fargo & Company increased their price target on Diamondback Energy from $262.00 to $263.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Susquehanna lifted their price objective on Diamondback Energy from $245.00 to $255.00 and gave the stock a "positive" rating in a research report on Tuesday, July 21st. Finally, Wolfe Research reissued an "outperform" rating and issued a $206.00 price objective on shares of Diamondback Energy in a research note on Tuesday, August 4th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $222.21.

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.

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