Brogan Financial Inc. Boosts Holdings in Diamondback Energy, Inc. $FANG

Brogan Financial Inc. boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 92.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,422 shares of the oil and natural gas company’s stock after acquiring an additional 1,162 shares during the period. Brogan Financial Inc.’s holdings in Diamondback Energy were worth $333,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FANG. Uhlmann Price Securities LLC increased its stake in shares of Diamondback Energy by 1.3% during the 2nd quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock worth $699,000 after purchasing an additional 67 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its position in Diamondback Energy by 5.6% during the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock worth $226,000 after buying an additional 75 shares in the last quarter. FourThought Financial Partners LLC raised its holdings in shares of Diamondback Energy by 2.9% in the first quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock worth $444,000 after acquiring an additional 78 shares during the last quarter. Biondo Investment Advisors LLC lifted its position in shares of Diamondback Energy by 0.3% in the first quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company’s stock valued at $4,614,000 after acquiring an additional 80 shares in the last quarter. Finally, STF Management LP boosted its stake in shares of Diamondback Energy by 1.9% during the second quarter. STF Management LP now owns 4,490 shares of the oil and natural gas company’s stock valued at $617,000 after acquiring an additional 84 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

FANG opened at $146.17 on Thursday. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $186.07. The company’s 50 day simple moving average is $142.27 and its 200 day simple moving average is $141.95. The stock has a market capitalization of $41.88 billion, a PE ratio of 10.16 and a beta of 0.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. Diamondback Energy’s revenue was up 48.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 earnings per share. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 13th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, November 13th. Diamondback Energy’s dividend payout ratio (DPR) is 27.80%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FANG. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. Evercore ISI lifted their price target on shares of Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Mizuho reduced their price objective on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Royal Bank Of Canada restated an “outperform” rating and set a $173.00 target price on shares of Diamondback Energy in a research report on Friday, October 10th. Finally, Piper Sandler cut their price target on Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $188.55.

Diamondback Energy Profile

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.