Vise Technologies Inc. Invests $1.59 Million in Diamondback Energy, Inc. $FANG

Key Points

• Vise Technologies bought 9,068 Diamondback Energy shares worth approximately $1.59 million during the second quarter. Institutional investors collectively own 90.01% of FANG.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $222.21. Recent target increases came from Truist Financial and Bernstein.
• Diamondback exceeded quarterly expectations, reporting $6.48 in earnings per share and $5.56 billion in revenue, up 51.2% year over year. The company also paid a quarterly dividend of $1.10 per share, yielding about 2.1% annually.

Vise Technologies Inc. bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,068 shares of the oil and natural gas company's stock, valued at approximately $1,594,000.

Other institutional investors also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators grew its stake in shares of Diamondback Energy by 31.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company's stock worth $41,000 after purchasing an additional 66 shares during the period. Scotia Capital Inc. lifted its stake in shares of Diamondback Energy by 0.3% in the 3rd quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company's stock valued at $2,822,000 after purchasing an additional 68 shares during the period. Capital Financial Group Inc. Co. ADV lifted its stake in shares of Diamondback Energy by 2.1% in the 1st quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company's stock valued at $709,000 after purchasing an additional 75 shares during the period. Physician Wealth Advisors Inc. boosted its holdings in Diamondback Energy by 40.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 301 shares of the oil and natural gas company's stock worth $45,000 after buying an additional 86 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its holdings in Diamondback Energy by 0.5% during the third quarter. Kestra Private Wealth Services LLC now owns 17,564 shares of the oil and natural gas company's stock worth $2,513,000 after buying an additional 86 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the sale, the executive vice president owned 46,392 shares of the company's stock, valued at approximately $9,303,451.68. This trade represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy 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 owned 13,437 shares in the company, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 129,167 shares of company stock valued at $24,714,309. 0.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FANG. Wall Street Zen raised shares of Diamondback Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Zacks Research cut Diamondback Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 28th. Citigroup cut their price target on Diamondback Energy from $221.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Truist Financial upped their price target on Diamondback Energy from $220.00 to $224.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Finally, Sanford C. Bernstein increased their price target on Diamondback Energy from $237.00 to $241.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $222.21.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $210.72 on Friday. The firm has a 50-day simple moving average of $191.79 and a 200-day simple moving average of $189.22. 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 $59.01 billion, a price-to-earnings ratio of 41.08 and a beta of 0.43. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $216.90.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, topping analysts' consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the business posted $2.38 earnings per share. Diamondback Energy's quarterly revenue was up 51.2% on a year-over-year basis. On average, equities analysts predict that Diamondback Energy, Inc. will post 19.78 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, August 13th. Diamondback Energy's payout ratio 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.

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