EFG International AG Makes New $57.69 Million Investment in Diamondback Energy, Inc. $FANG

EFG International AG acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 327,970 shares of the oil and natural gas company’s stock, valued at approximately $57,685,000. Diamondback Energy makes up approximately 1.1% of EFG International AG’s portfolio, making the stock its 22nd biggest position.

Other hedge funds also recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the fourth quarter valued at $26,000. Cedar Mountain Advisors LLC acquired a new stake in Diamondback Energy during the 1st quarter valued at $26,000. JPL Wealth Management LLC purchased a new stake in Diamondback Energy during the 3rd quarter worth $26,000. Wellington Shields & Co. LLC increased its stake in Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 135 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Diamondback Energy in the 2nd quarter worth $28,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wolfe Research reissued an “outperform” rating and issued a $206.00 price objective on shares of Diamondback Energy in a research report on Tuesday, August 4th. Sanford C. Bernstein increased their price target on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Roth Capital set a $212.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research note on Monday, June 22nd. Barclays dropped their price objective on Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Finally, Zacks Research lowered Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $222.21.

Diamondback Energy Trading Down 2.8%

Shares of NASDAQ FANG opened at $199.89 on Wednesday. The company has a market cap of $55.97 billion, a price-to-earnings ratio of 38.96 and a beta of 0.43. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $216.90. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The stock’s 50 day simple moving average is $192.34 and its 200 day simple moving average is $189.96.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, topping analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the business earned $2.38 EPS. The firm’s revenue was up 51.2% on a year-over-year basis. Equities research analysts expect that Diamondback Energy, Inc. will post 20.13 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. Diamondback Energy’s payout ratio is 85.77%.

Insider Activity

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

Diamondback Energy Company Profile

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.