ZEGA Investments LLC Has $1.89 Million Stock Position in Diamondback Energy, Inc. $FANG

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ZEGA Investments LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 66.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,821 shares of the oil and natural gas company's stock after selling 23,574 shares during the quarter. ZEGA Investments LLC's holdings in Diamondback Energy were worth $1,890,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its holdings 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 worth $5,784,000 after buying an additional 1,384 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings 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 worth $9,409,000 after buying an additional 3,467 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings 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 worth $1,143,000 after buying an additional 2,397 shares during the period. True North Advisors LLC acquired a new position in shares of Diamondback Energy in the first quarter worth about $327,000. Finally, Wealth Advisory Solutions LLC acquired a new position in shares of Diamondback Energy in the first quarter worth about $2,631,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction that occurred on Thursday, August 7th. The shares were 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 of the company's stock, valued at $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on FANG. Morgan Stanley restated an "overweight" rating and set a $186.00 price target (up from $184.00) on shares of Diamondback Energy in a report on Monday. Evercore ISI began coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. KeyCorp decreased their price target on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Wells Fargo & Company raised their price target on shares of Diamondback Energy from $210.00 to $211.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $191.59.

Diamondback Energy Trading Down 0.5%

NASDAQ:FANG opened at $139.52 on Tuesday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $200.47. The firm has a market cap of $40.39 billion, a price-to-earnings ratio of 9.92 and a beta of 1.09. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The company's 50 day moving average is $143.60 and its 200-day moving average is $144.22.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released 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). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the business earned $4.52 EPS. The company's revenue for the quarter was up 48.1% compared to the same quarter last year. Equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.9%. Diamondback Energy's dividend payout ratio (DPR) is currently 28.43%.

About Diamondback Energy

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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