Strategy Asset Managers LLC Buys Shares of 5,655 Diamondback Energy, Inc. (NASDAQ:FANG)

Strategy Asset Managers LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,655 shares of the oil and natural gas company’s stock, valued at approximately $1,132,000.

A number of other institutional investors have also recently made changes to their positions in FANG. Franklin Resources Inc. boosted its stake in Diamondback Energy by 14.1% in the fourth quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock worth $7,852,000 after buying an additional 6,240 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Diamondback Energy by 178.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock valued at $6,112,000 after purchasing an additional 19,552 shares during the last quarter. TFO Wealth Partners LLC raised its position in Diamondback Energy by 78,990.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,909 shares of the oil and natural gas company’s stock worth $1,227,000 after purchasing an additional 7,899 shares during the period. National Bank of Canada FI lifted its stake in Diamondback Energy by 946.9% in the fourth quarter. National Bank of Canada FI now owns 154,493 shares of the oil and natural gas company’s stock worth $24,257,000 after purchasing an additional 139,736 shares during the last quarter. Finally, Integrated Advisors Network LLC boosted its position in Diamondback Energy by 92.8% during the fourth quarter. Integrated Advisors Network LLC now owns 13,031 shares of the oil and natural gas company’s stock valued at $2,021,000 after buying an additional 6,272 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 1.0 %

FANG traded down $1.81 during midday trading on Wednesday, reaching $185.67. The company’s stock had a trading volume of 143,755 shares, compared to its average volume of 1,524,518. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50. The stock’s 50-day moving average is $199.01 and its 200-day moving average is $195.97. The firm has a market capitalization of $33.11 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.23 and a beta of 1.90. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.68 EPS. As a group, research analysts expect that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $2.34 dividend. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. This represents a yield of 1.9%. Diamondback Energy’s payout ratio is presently 20.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FANG shares. StockNews.com cut Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. UBS Group increased their price objective on Diamondback Energy from $245.00 to $247.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Wolfe Research began coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Wells Fargo & Company dropped their price target on shares of Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $220.00 price objective on shares of Diamondback Energy in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

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.