Energy Income Partners LLC Takes $4.20 Million Position in Diamondback Energy, Inc. $FANG

Energy Income Partners LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 23,891 shares of the oil and natural gas company’s stock, valued at approximately $4,200,000.

Other large investors also recently bought and sold shares of the company. Laurel Wealth Advisors LLC bought a new position in Diamondback Energy in the 4th quarter valued at $26,000. Cedar Mountain Advisors LLC bought a new stake in shares of Diamondback Energy during the first quarter worth $26,000. JPL Wealth Management LLC bought a new stake in shares of Diamondback Energy during the third quarter worth $26,000. Wellington Shields & Co. LLC boosted its stake in shares of Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 135 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in Diamondback Energy in the 2nd quarter worth about $28,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Charles Alvin Meloy sold 83,334 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the completion of the transaction, the director directly owned 851,530 shares of the company’s stock, valued at approximately $159,338,293.60. The trade was a 8.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the sale, the director directly owned 13,437 shares in the company, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 129,167 shares of company stock valued at $24,714,309. 0.64% of the stock is owned by insiders.

Diamondback Energy Trading Up 1.8%

NASDAQ FANG opened at $210.02 on Wednesday. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The company has a market capitalization of $58.81 billion, a price-to-earnings ratio of 40.94 and a beta of 0.43. The company’s 50-day simple moving average is $190.79 and its two-hundred day simple moving average is $188.42.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, topping the consensus estimate of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the company earned $2.38 EPS. The company’s revenue was up 51.2% compared to the same quarter last year. Equities analysts forecast that Diamondback Energy, Inc. will post 19.5 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, August 13th. Diamondback Energy’s dividend payout ratio (DPR) is 85.77%.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of research analyst reports. Roth Capital set a $212.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a report on Monday, June 22nd. Morgan Stanley reduced their target price on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. UBS Group decreased their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Barclays lowered their price target on Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating for the company in a report on Monday. Finally, Wells Fargo & Company increased their price objective on Diamondback Energy from $262.00 to $263.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $221.75.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.