Everstar Asset Management LLC Acquires 875 Shares of Diamondback Energy, Inc. $FANG

Everstar Asset Management LLC boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 33.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,527 shares of the oil and natural gas company’s stock after buying an additional 875 shares during the quarter. Everstar Asset Management LLC’s holdings in Diamondback Energy were worth $485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in shares of Diamondback Energy during the 1st quarter valued at $96,000. Arkadios Wealth Advisors lifted its position in Diamondback Energy by 23.4% during the first quarter. Arkadios Wealth Advisors now owns 6,788 shares of the oil and natural gas company’s stock valued at $1,085,000 after purchasing an additional 1,285 shares in the last quarter. Harbour Investments Inc. lifted its position in Diamondback Energy by 26.7% during the first quarter. Harbour Investments Inc. now owns 929 shares of the oil and natural gas company’s stock valued at $149,000 after purchasing an additional 196 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Diamondback Energy by 7.4% during the first quarter. PNC Financial Services Group Inc. now owns 47,375 shares of the oil and natural gas company’s stock valued at $7,574,000 after purchasing an additional 3,254 shares during the period. Finally, Argent Trust Co increased its position in Diamondback Energy by 39.8% in the first quarter. Argent Trust Co now owns 12,420 shares of the oil and natural gas company’s stock worth $1,986,000 after buying an additional 3,538 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Up 2.1%

Diamondback Energy stock opened at $152.42 on Monday. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $180.91. The firm’s 50 day moving average price is $144.53 and its 200-day moving average price is $142.92. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The stock has a market cap of $43.65 billion, a P/E ratio of 10.59 and a beta of 0.63.

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

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, November 13th. Diamondback Energy’s payout ratio is 27.80%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FANG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a research report on Tuesday, November 25th. Raymond James Financial decreased their target price on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, August 20th. Melius initiated coverage on shares of Diamondback Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target for the company. KeyCorp reduced their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $173.00 target price on shares of Diamondback Energy in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $188.77.

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.