Monetary Management Group Inc. Increases Stock Position in Diamondback Energy, Inc. $FANG

Monetary Management Group Inc. grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 40.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,250 shares of the oil and natural gas company’s stock after acquiring an additional 650 shares during the quarter. Monetary Management Group Inc.’s holdings in Diamondback Energy were worth $360,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FANG. TD Waterhouse Canada Inc. boosted its holdings in shares of Diamondback Energy by 8.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 7,915 shares of the oil and natural gas company’s stock valued at $1,297,000 after acquiring an additional 647 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Diamondback Energy by 23.2% during the 4th quarter. Stifel Financial Corp now owns 260,307 shares of the oil and natural gas company’s stock valued at $42,650,000 after acquiring an additional 48,991 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Diamondback Energy by 17.7% during the 4th quarter. Hsbc Holdings PLC now owns 561,935 shares of the oil and natural gas company’s stock valued at $92,041,000 after acquiring an additional 84,464 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Diamondback Energy by 11.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock valued at $1,496,859,000 after acquiring an additional 928,429 shares during the last quarter. Finally, Syon Capital LLC boosted its holdings in shares of Diamondback Energy by 12.6% in the fourth quarter. Syon Capital LLC now owns 1,728 shares of the oil and natural gas company’s stock worth $283,000 after buying an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction 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 sale, the chairman owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective 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. Morgan Stanley raised their price objective on shares of Diamondback Energy from $184.00 to $186.00 and gave the stock an “overweight” rating in a report on Monday. UBS Group raised their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a report on Wednesday. Melius started coverage on shares of Diamondback Energy in a report on Wednesday. They set a “buy” rating and a $213.00 price target on the stock. Finally, Mizuho lowered their price target on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $193.33.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $138.00 on Friday. The company has a market cap of $39.95 billion, a price-to-earnings ratio of 9.81 and a beta of 1.09. The firm’s fifty day moving average is $143.02 and its 200 day moving average is $143.96. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $200.47.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (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 business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the company earned $4.52 EPS. Diamondback Energy’s revenue for the quarter was up 48.1% compared to the same quarter last year. Sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.9%. Diamondback Energy’s dividend payout ratio 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.