Ameriflex Group Inc. Reduces Stock Position in Diamondback Energy, Inc. $FANG

Ameriflex Group Inc. lowered its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 18.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 670 shares of the oil and natural gas company’s stock after selling 154 shares during the quarter. Ameriflex Group Inc.’s holdings in Diamondback Energy were worth $94,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hilltop National Bank purchased a new position in shares of Diamondback Energy during the 2nd quarter worth $361,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Diamondback Energy by 11.1% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 107,444 shares of the oil and natural gas company’s stock worth $14,763,000 after acquiring an additional 10,756 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Diamondback Energy by 9.5% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,456 shares of the oil and natural gas company’s stock worth $475,000 after acquiring an additional 301 shares during the last quarter. J2 Capital Management Inc boosted its stake in shares of Diamondback Energy by 30.0% during the 2nd quarter. J2 Capital Management Inc now owns 2,031 shares of the oil and natural gas company’s stock worth $279,000 after acquiring an additional 469 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Diamondback Energy by 12.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 40,517 shares of the oil and natural gas company’s stock worth $5,567,000 after acquiring an additional 4,340 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. Wells Fargo & Company lifted their target price on shares of Diamondback Energy from $210.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Diamondback Energy in a research note on Saturday, September 27th. Wall Street Zen cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Morgan Stanley boosted their price target on shares of Diamondback Energy from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $192.41.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. This represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Diamondback Energy Trading Up 3.0%

NASDAQ:FANG opened at $147.47 on Friday. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47. The firm has a 50 day moving average of $142.86 and a 200 day moving average of $141.52. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $42.69 billion, a price-to-earnings ratio of 10.48 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 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 firm 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. The company’s revenue was up 48.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. Diamondback Energy’s dividend payout ratio is presently 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.