Nykredit A S Invests $7.17 Million in Diamondback Energy, Inc. $FANG

Nykredit A S bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 40,807 shares of the oil and natural gas company’s stock, valued at approximately $7,173,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Symphony Financial Ltd. Co. increased its position in Diamondback Energy by 2.6% in the 2nd quarter. Symphony Financial Ltd. Co. now owns 4,057 shares of the oil and natural gas company’s stock worth $732,000 after buying an additional 102 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Diamondback Energy in the second quarter worth $222,000. Renasant Bank grew its stake in shares of Diamondback Energy by 3.4% in the second quarter. Renasant Bank now owns 2,402 shares of the oil and natural gas company’s stock worth $422,000 after acquiring an additional 78 shares during the last quarter. Rehmann Capital Advisory Group increased its position in Diamondback Energy by 4.9% during the second quarter. Rehmann Capital Advisory Group now owns 1,251 shares of the oil and natural gas company’s stock worth $220,000 after acquiring an additional 59 shares during the period. Finally, Quantitative Investment Management LLC acquired a new position in Diamondback Energy during the 2nd quarter valued at $1,176,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. UBS Group reduced their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Susquehanna increased their target price on shares of Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Barclays decreased their target price on Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Wolfe Research restated an “outperform” rating and set a $206.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 4th. Finally, Mizuho upped their price target on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $222.21.

Diamondback Energy Trading Down 1.8%

Shares of FANG opened at $199.22 on Friday. The stock has a fifty day moving average price of $195.00 and a two-hundred day moving average price of $191.70. 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 cap of $55.79 billion, a price-to-earnings ratio of 38.83 and a beta of 0.43. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $216.90.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. The business had revenue of $5.56 billion during 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 firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.38 earnings per share. Analysts predict that Diamondback Energy, Inc. will post 20.14 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders 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 dividend payout ratio (DPR) is presently 85.77%.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the sale, the director directly owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles Meloy sold 83,334 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the sale, the director directly owned 851,530 shares of the company’s stock, valued at approximately $159,338,293.60. This represents a 8.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 117,167 shares of company stock valued at $22,305,309. Insiders own 0.64% of the company’s stock.

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.