UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $127.72 Million Stake in Diamondback Energy, Inc. $FANG

Key Points

• UBS Asset Management increased its stake in Diamondback Energy by 0.5%, owning 798,844 shares valued at approximately $127.72 million as of the last quarter.
• Diamondback Energy reported a miss on EPS, with earnings of $2.67 compared to the expected $2.72, though its revenue exceeded estimates at $3.68 billion.
• The company declared a quarterly dividend of $1.00 per share, resulting in an annualized yield of 2.9% and a payout ratio of 28.43%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 798,844 shares of the oil and natural gas company's stock after purchasing an additional 4,236 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.27% of Diamondback Energy worth $127,719,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BankPlus Trust Department bought a new position in shares of Diamondback Energy during the first quarter worth about $27,000. Pinnacle Bancorp Inc. grew its stake in Diamondback Energy by 95.7% in the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. SouthState Corp boosted its stake in shares of Diamondback Energy by 596.4% during the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock worth $31,000 after acquiring an additional 167 shares during the period. Fourth Dimension Wealth LLC bought a new position in shares of Diamondback Energy during the 4th quarter worth approximately $33,000. Finally, WASHINGTON TRUST Co boosted its stake in shares of Diamondback Energy by 119.8% during the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 109 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $136.88 on Friday. The company has a market cap of $39.63 billion, a PE ratio of 9.73 and a beta of 1.14. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47. The business has a 50 day moving average price of $142.68 and a 200-day moving average price of $142.22. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35.

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

Diamondback Energy Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently weighed in on FANG shares. Melius assumed coverage on Diamondback Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $213.00 price target for the company. Wall Street Zen cut Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Wells Fargo & Company boosted their price objective on Diamondback Energy from $210.00 to $211.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Susquehanna reduced their price objective on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Finally, UBS Group upped their price target on Diamondback Energy from $163.00 to $171.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $193.17.

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction dated 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 sale, the chairman owned 102,145 shares of the company's stock, valued at approximately $14,586,306. This represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company's stock.

Diamondback Energy Profile

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.

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