Diamondback Energy, Inc. $FANG Shares Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 16.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,781 shares of the oil and natural gas company’s stock after purchasing an additional 3,418 shares during the period. Pallas Capital Advisors LLC’s holdings in Diamondback Energy were worth $3,725,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Smead Capital Management Inc. purchased a new stake in Diamondback Energy in the 2nd quarter valued at approximately $144,775,000. Capital Research Global Investors raised its stake in shares of Diamondback Energy by 38.0% during the 3rd quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company’s stock worth $543,610,000 after buying an additional 1,046,398 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Diamondback Energy by 2,637.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 456,686 shares of the oil and natural gas company’s stock worth $65,352,000 after buying an additional 440,005 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Diamondback Energy by 1,127.8% in the 3rd quarter. Two Sigma Investments LP now owns 369,568 shares of the oil and natural gas company’s stock valued at $52,885,000 after buying an additional 339,468 shares during the period. Finally, Ninepoint Partners LP acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at approximately $45,076,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Matt Zmigrosky sold 20,899 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $180.00, for a total value of $3,761,820.00. Following the sale, the executive vice president directly owned 60,493 shares of the company’s stock, valued at approximately $10,888,740. This represents a 25.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven E. West sold 6,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $188.35, for a total transaction of $1,130,100.00. Following the completion of the sale, the director directly owned 4,484 shares in the company, valued at approximately $844,561.40. The trade was a 57.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,209,212 shares of company stock valued at $199,689,401. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FANG shares. Raymond James Financial upped their price objective on Diamondback Energy from $210.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Tuesday, March 17th. Freedom Capital raised Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. Sanford C. Bernstein decreased their target price on shares of Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $171.00 to $202.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. Finally, UBS Group increased their price target on shares of Diamondback Energy from $194.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $196.81.

Diamondback Energy Stock Performance

FANG opened at $201.84 on Friday. The stock has a market cap of $56.78 billion, a P/E ratio of 35.98 and a beta of 0.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.42 and a quick ratio of 0.40. The stock’s 50 day simple moving average is $173.12 and its 200 day simple moving average is $155.90. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $204.91.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.26). The firm had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Diamondback Energy had a net margin of 11.07% and a return on equity of 8.08%. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.67 earnings per share. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were given a $1.05 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, March 5th. Diamondback Energy’s dividend payout ratio (DPR) is 74.87%.

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.