Y Intercept Hong Kong Ltd Invests $292,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• Y Intercept Hong Kong Ltd invested $292,000 in Diamondback Energy, purchasing 1,824 shares as reported in their 1st quarter Form 13F filing.
• Diamondback Energy recently reported a quarterly earnings per share of $4.54, exceeding estimates by $0.87 and showing an 81.8% increase in revenue year-over-year.
• A quarterly dividend of $1.00 per share was announced, representing an annualized yield of 2.65% with a payout ratio of 24.46%.

Y Intercept Hong Kong Ltd bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,824 shares of the oil and natural gas company's stock, valued at approximately $292,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BankPlus Trust Department bought a new stake in shares of Diamondback Energy during the first quarter worth $27,000. Pinnacle Bancorp Inc. boosted its holdings in shares of 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 during the period. Fourth Dimension Wealth LLC bought a new position in Diamondback Energy in the fourth quarter worth approximately $33,000. WASHINGTON TRUST Co raised its position in 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 valued at $32,000 after purchasing an additional 109 shares in the last quarter. Finally, Grove Bank & Trust grew its position in shares of Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after buying an additional 80 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research reports. Barclays cut their target price on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank Of Canada began coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price target for the company. UBS Group lowered their target price on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company upped their target price on Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Finally, Susquehanna decreased their price objective on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $191.59.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG traded down $2.34 during midday trading on Thursday, hitting $148.66. The company had a trading volume of 1,865,943 shares, compared to its average volume of 1,689,798. The business's 50-day simple moving average is $142.45 and its 200-day simple moving average is $147.57. The stock has a market cap of $43.43 billion, a price-to-earnings ratio of 9.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $203.98.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The business's revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.50 EPS. On average, research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's payout ratio is presently 24.46%.

Insider Buying and Selling

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president owned 120,645 shares of the company's stock, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by insiders.

Diamondback Energy Company 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.