Diamondback Energy, Inc. $FANG Shares Purchased by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its stake in Diamondback Energy by 84.2%, owning 6,798 shares valued at $1,087,000 after purchasing an additional 3,108 shares.
• Diamondback Energy reported a quarterly earnings miss with earnings per share of $2.67, below the consensus estimate of $2.72, despite revenue growth of 48.1% year-over-year.
• The company recently announced a $1.00 quarterly dividend, equating to an annualized yield of 2.8%, with a dividend payout ratio of 28.43%.

Vident Advisory LLC boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 84.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,798 shares of the oil and natural gas company's stock after acquiring an additional 3,108 shares during the quarter. Vident Advisory LLC's holdings in Diamondback Energy were worth $1,087,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. grew its stake in shares of Diamondback Energy by 4.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock valued at $5,784,000 after buying an additional 1,384 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Diamondback Energy by 6.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock valued at $9,409,000 after buying an additional 3,467 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Diamondback Energy by 50.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company's stock valued at $1,143,000 after buying an additional 2,397 shares in the last quarter. True North Advisors LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at $327,000. Finally, Wealth Advisory Solutions LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at $2,631,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FANG shares. Mizuho dropped their price objective on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Susquehanna dropped their price objective on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Morgan Stanley boosted their target price on Diamondback Energy from $184.00 to $186.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Bank of America boosted their target price on Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Raymond James Financial lowered their target price on Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating for the company in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of "Buy" and an average price target of $193.17.

Diamondback Energy Stock Down 2.8%

NASDAQ FANG traded down $4.03 during trading on Friday, reaching $138.71. 1,993,976 shares of the company's stock were exchanged, compared to its average volume of 1,686,301. The stock has a market cap of $40.16 billion, a P/E ratio of 9.86 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. The company has a 50 day moving average price of $142.93 and a two-hundred day moving average price of $142.77. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year 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). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period last year, the firm earned $4.52 earnings per share. The firm's quarterly revenue was up 48.1% on a year-over-year basis. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares in the company, valued at $14,586,306. The trade was a 16.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

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.