Palo Duro Investment Partners LP Invests $1.76 Million in Diamondback Energy, Inc. $FANG

Palo Duro Investment Partners LP acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, HoldingsChannel reports. The institutional investor acquired 9,997 shares of the oil and natural gas company’s stock, valued at approximately $1,757,000. Diamondback Energy makes up approximately 0.3% of Palo Duro Investment Partners LP’s investment portfolio, making the stock its 15th largest holding.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in Diamondback Energy in the 2nd quarter worth about $3,303,362,000. Boston Partners lifted its position in Diamondback Energy by 2.9% in the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock valued at $821,649,000 after acquiring an additional 163,548 shares in the last quarter. Geode Capital Management LLC boosted its stake in Diamondback Energy by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock valued at $844,073,000 after purchasing an additional 14,625 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Diamondback Energy by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after purchasing an additional 532,756 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Diamondback Energy by 14.1% in the 4th quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock worth $651,363,000 after purchasing an additional 534,073 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $199.84 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $216.90. The business has a 50 day simple moving average of $192.62 and a two-hundred day simple moving average of $190.20. The stock has a market capitalization of $55.96 billion, a PE ratio of 38.96 and a beta of 0.43.

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

Diamondback Energy Dividend Announcement

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

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the transaction, the director directly owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This trade represents a 3.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 129,167 shares of company stock worth $24,714,309 in the last ninety days. Company insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Roth Capital set a $212.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Monday, June 22nd. Sanford C. Bernstein lifted their price target on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Truist Financial raised their target price on shares of Diamondback Energy from $220.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Wolfe Research reiterated an “outperform” rating and set a $206.00 target price on shares of Diamondback Energy in a research note on Tuesday, August 4th. Finally, Citigroup lowered their price target on Diamondback Energy from $221.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $222.21.

Diamondback Energy 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.