Tortoise Capital Advisors L.L.C. boosted its holdings in Diamondback Energy Inc (NASDAQ:FANG) by 6.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 86,937 shares of the oil and natural gas company’s stock after buying an additional 5,635 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in Diamondback Energy were worth $9,474,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Diamondback Energy by 1.6% in the second quarter. Vanguard Group Inc. now owns 17,698,267 shares of the oil and natural gas company’s stock valued at $1,928,581,000 after purchasing an additional 275,764 shares during the last quarter. BlackRock Inc. increased its stake in Diamondback Energy by 4.7% in the second quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock valued at $1,167,931,000 after purchasing an additional 485,647 shares during the last quarter. Corvex Management LP increased its stake in Diamondback Energy by 10.7% in the second quarter. Corvex Management LP now owns 2,935,307 shares of the oil and natural gas company’s stock valued at $319,860,000 after purchasing an additional 283,785 shares during the last quarter. Geode Capital Management LLC increased its stake in Diamondback Energy by 128.1% in the fourth quarter. Geode Capital Management LLC now owns 2,040,175 shares of the oil and natural gas company’s stock valued at $188,797,000 after purchasing an additional 1,145,573 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Diamondback Energy by 12.1% in the second quarter. Northern Trust Corp now owns 1,872,258 shares of the oil and natural gas company’s stock valued at $204,020,000 after purchasing an additional 202,584 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

NASDAQ:FANG traded down $0.51 on Friday, hitting $96.82. 1,778,783 shares of the stock were exchanged, compared to its average volume of 1,693,309. The stock has a market cap of $16.02 billion, a PE ratio of 16.49, a PEG ratio of 0.48 and a beta of 0.83. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average of $96.97 and a 200-day moving average of $102.35. Diamondback Energy Inc has a fifty-two week low of $85.19 and a fifty-two week high of $140.78.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.04). Diamondback Energy had a return on equity of 6.50% and a net margin of 26.92%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company earned $1.59 earnings per share. The business’s revenue was up 93.7% compared to the same quarter last year. As a group, analysts predict that Diamondback Energy Inc will post 7.13 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.188 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.78%. Diamondback Energy’s dividend payout ratio (DPR) is currently 12.78%.

In related news, CEO Travis D. Stice bought 4,186 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $95.55 per share, for a total transaction of $399,972.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael P. Cross sold 1,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $104.75, for a total value of $104,750.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,000 shares of company stock valued at $1,621,690. Insiders own 0.47% of the company’s stock.

FANG has been the subject of several analyst reports. Roth Capital dropped their target price on Diamondback Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Morgan Stanley dropped their target price on Diamondback Energy from $143.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. TD Securities lowered Diamondback Energy from an “action list buy” rating to a “buy” rating and set a $155.00 target price for the company. in a research note on Friday, September 6th. MKM Partners began coverage on Diamondback Energy in a research note on Friday, June 28th. They set a “buy” rating for the company. Finally, BidaskClub upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Diamondback Energy presently has a consensus rating of “Buy” and an average price target of $152.80.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

Further Reading: What does an equal weight rating mean?

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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