Dohj LLC Buys Shares of 2,650 Diamondback Energy, Inc. (NASDAQ:FANG)

Dohj LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,650 shares of the oil and natural gas company’s stock, valued at approximately $249,000.

A number of other institutional investors have also recently bought and sold shares of FANG. Meeder Asset Management Inc. increased its stake in shares of Diamondback Energy by 1.0% in the second quarter. Meeder Asset Management Inc. now owns 12,820 shares of the oil and natural gas company’s stock valued at $1,204,000 after buying an additional 132 shares during the period. Berman Capital Advisors LLC increased its stake in shares of Diamondback Energy by 22.0% in the first quarter. Berman Capital Advisors LLC now owns 749 shares of the oil and natural gas company’s stock valued at $55,000 after buying an additional 135 shares during the period. Bessemer Group Inc. increased its stake in shares of Diamondback Energy by 31.0% in the first quarter. Bessemer Group Inc. now owns 579 shares of the oil and natural gas company’s stock valued at $43,000 after buying an additional 137 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of Diamondback Energy by 0.6% in the second quarter. Mutual of America Capital Management LLC now owns 23,615 shares of the oil and natural gas company’s stock valued at $2,217,000 after buying an additional 146 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in shares of Diamondback Energy by 13.9% in the first quarter. Peregrine Capital Management LLC now owns 1,310 shares of the oil and natural gas company’s stock valued at $96,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 89.61% of the company’s stock.

Shares of FANG stock traded up $4.76 during trading hours on Wednesday, reaching $80.44. The company had a trading volume of 150,223 shares, compared to its average volume of 2,660,289. Diamondback Energy, Inc. has a 12 month low of $23.63 and a 12 month high of $102.53. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.58 and a quick ratio of 0.55. The business has a fifty day simple moving average of $77.66 and a 200-day simple moving average of $80.32. The company has a market cap of $14.56 billion, a price-to-earnings ratio of -9.28, a price-to-earnings-growth ratio of 0.34 and a beta of 2.78.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Sunday, August 1st. The oil and natural gas company reported $2.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.21. Diamondback Energy had a positive return on equity of 9.49% and a negative net margin of 30.34%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the company earned $0.15 earnings per share. The company’s revenue for the quarter was up 295.5% on a year-over-year basis. On average, equities research analysts expect that Diamondback Energy, Inc. will post 10.08 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Thursday, August 12th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Wednesday, August 11th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.40. Diamondback Energy’s dividend payout ratio (DPR) is currently 59.21%.

Several equities research analysts have recently weighed in on the company. KeyCorp increased their price target on Diamondback Energy from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, July 21st. Johnson Rice raised Diamondback Energy from a “hold” rating to an “accumulate” rating and raised their target price for the stock from $92.00 to $114.00 in a research note on Tuesday, June 8th. Morgan Stanley decreased their target price on Diamondback Energy from $114.00 to $111.00 and set an “overweight” rating for the company in a research note on Monday, August 23rd. Piper Sandler raised their target price on Diamondback Energy from $102.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, July 22nd. Finally, Barclays raised their target price on Diamondback Energy from $82.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 3rd. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Buy” and an average target price of $98.68.

About Diamondback Energy

Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.

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

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