Stonebrook Private Inc. Has $742,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Stonebrook Private Inc. boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 18.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,706 shares of the oil and natural gas company’s stock after buying an additional 568 shares during the period. Stonebrook Private Inc.’s holdings in Diamondback Energy were worth $742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Diamondback Energy by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after purchasing an additional 2,381,488 shares in the last quarter. Boston Partners increased its holdings in Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after buying an additional 1,916,900 shares during the last quarter. Homestead Advisers Corp bought a new position in Diamondback Energy during the first quarter valued at approximately $87,940,000. Bank of New York Mellon Corp lifted its stake in Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after acquiring an additional 415,902 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Diamondback Energy in the first quarter worth approximately $77,510,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 2.3 %

Shares of FANG stock traded down $4.28 during trading hours on Friday, hitting $179.73. 1,505,623 shares of the company were exchanged, compared to its average volume of 1,528,718. The company has a market capitalization of $32.05 billion, a PE ratio of 10.13, a PEG ratio of 1.23 and a beta of 1.89. The business has a 50 day moving average of $198.04 and a two-hundred day moving average of $195.81. Diamondback Energy, Inc. has a 52 week low of $143.08 and a 52 week high of $214.50. 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 released its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the business posted $3.68 EPS. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. Analysts anticipate that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FANG shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $220.00 price objective on shares of Diamondback Energy in a report on Tuesday, August 13th. Wells Fargo & Company cut their price objective on Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Sanford C. Bernstein lowered their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. KeyCorp began coverage on shares of Diamondback Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $225.00 price objective for the company. Finally, Susquehanna lowered their target price on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy currently 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.