Empowered Funds LLC Purchases 12,472 Shares of Diamondback Energy, Inc. $FANG

Empowered Funds LLC boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.2% during the 2nd quarter, Holdings Channel reports. The fund owned 123,972 shares of the oil and natural gas company’s stock after buying an additional 12,472 shares during the period. Empowered Funds LLC’s holdings in Diamondback Energy were worth $17,034,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. WBI Investments LLC acquired a new position in shares of Diamondback Energy during the second quarter worth approximately $2,188,000. Rothschild Investment LLC grew its position in Diamondback Energy by 9.4% in the 2nd quarter. Rothschild Investment LLC now owns 12,998 shares of the oil and natural gas company’s stock valued at $1,786,000 after purchasing an additional 1,122 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Diamondback Energy by 3.6% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 74,783 shares of the oil and natural gas company’s stock valued at $10,275,000 after purchasing an additional 2,627 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Diamondback Energy by 38.0% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 119,287 shares of the oil and natural gas company’s stock worth $16,390,000 after buying an additional 32,838 shares during the last quarter. Finally, Generali Investments Management Co LLC raised its holdings in Diamondback Energy by 18.3% during the second quarter. Generali Investments Management Co LLC now owns 1,475 shares of the oil and natural gas company’s stock worth $202,000 after buying an additional 228 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FANG shares. Roth Capital set a $162.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Melius initiated coverage on Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target for the company. UBS Group boosted their price objective on Diamondback Energy from $171.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Evercore ISI raised their target price on Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Finally, Barclays cut their target price on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $188.95.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $146.37 on Tuesday. The company has a market capitalization of $41.94 billion, a PE ratio of 10.17 and a beta of 0.99. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $142.70 and its 200-day moving average price is $142.24. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $186.07.

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

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 13th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, November 13th. This represents a $4.00 annualized dividend and a yield of 2.7%. Diamondback Energy’s dividend payout ratio is presently 27.80%.

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.