UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 402,004 Shares of Diamondback Energy, Inc. $FANG

Key Points

• UBS Asset Management increased its Diamondback Energy stake by 42.3% in the second quarter, purchasing 402,004 additional shares and bringing its holdings to 1.35 million shares, worth approximately $237.8 million.
• Diamondback reported stronger-than-expected quarterly results, with EPS of $6.48 versus the $6.08 consensus and revenue of $5.56 billion, up 51.2% year over year. The company also maintains a quarterly dividend of $1.10, equivalent to a 2.2% annualized yield.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $222.21, compared with the stock’s reported price of $200.48.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 42.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,353,016 shares of the oil and natural gas company's stock after purchasing an additional 402,004 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.48% of Diamondback Energy worth $237,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FANG. Cedar Mountain Advisors LLC acquired a new stake in shares of Diamondback Energy in the 1st quarter valued at about $26,000. JPL Wealth Management LLC bought a new stake in Diamondback Energy during the third quarter worth about $26,000. Wellington Shields & Co. LLC boosted its position in Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock valued at $28,000 after purchasing an additional 135 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Diamondback Energy during the second quarter valued at approximately $28,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at approximately $31,000. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Trading Up 1.4%

FANG opened at $200.48 on Tuesday. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $216.90. The company has a 50-day simple moving average of $193.50 and a 200 day simple moving average of $190.92. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $56.14 billion, a price-to-earnings ratio of 39.08 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating the consensus estimate of $6.08 by $0.40. The firm 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%. The business's quarterly revenue was up 51.2% compared to the same quarter last year. During the same period last year, the firm earned $2.38 EPS. Analysts predict that Diamondback Energy, Inc. will post 20.13 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

Insider Buying and Selling

In other Diamondback Energy news, Director Charles Alvin Meloy sold 83,334 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the sale, the director directly owned 851,530 shares in the company, valued at $159,338,293.60. This represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 firm's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director directly owned 13,437 shares in the company, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 117,167 shares of company stock worth $22,305,309 over the last three months. 0.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Diamondback Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Raymond James Financial reissued a "strong-buy" rating and issued a $248.00 target price on shares of Diamondback Energy in a research report on Friday, July 31st. Barclays dropped their price objective on shares of Diamondback Energy from $232.00 to $221.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. UBS Group lowered their target price on shares of Diamondback Energy from $246.00 to $243.00 and set a "buy" rating on the stock in a report on Tuesday, July 21st. Finally, Wolfe Research reiterated an "outperform" rating and issued a $206.00 price target on shares of Diamondback Energy in a research report on Tuesday, August 4th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.

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