Diamondback Energy, Inc. $FANG Stock Holdings Lowered by IFP Advisors Inc

IFP Advisors Inc lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 33,102 shares of the oil and natural gas company’s stock after selling 3,224 shares during the period. IFP Advisors Inc’s holdings in Diamondback Energy were worth $5,819,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Allworth Financial LP increased its position in shares of Diamondback Energy by 43.3% in the second quarter. Allworth Financial LP now owns 11,812 shares of the oil and natural gas company’s stock worth $2,076,000 after acquiring an additional 3,568 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Diamondback Energy by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 52,689 shares of the oil and natural gas company’s stock valued at $9,262,000 after acquiring an additional 1,662 shares in the last quarter. Waverly Advisors LLC boosted its stake in Diamondback Energy by 347.1% in the 2nd quarter. Waverly Advisors LLC now owns 164,536 shares of the oil and natural gas company’s stock worth $28,922,000 after purchasing an additional 127,732 shares during the period. Empirical Finance LLC grew its position in Diamondback Energy by 4.1% during the 2nd quarter. Empirical Finance LLC now owns 6,162 shares of the oil and natural gas company’s stock worth $1,083,000 after purchasing an additional 242 shares in the last quarter. Finally, Nykredit A S purchased a new position in Diamondback Energy during the 2nd quarter worth approximately $7,173,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Zacks Research lowered Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Jefferies Financial Group reissued a “hold” rating and set a $205.00 price target on shares of Diamondback Energy in a research report on Sunday, August 9th. Roth Capital set a $212.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, June 22nd. 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 research report on Tuesday, July 21st. Finally, Barclays lowered their price objective on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $222.21.

Diamondback Energy Stock Performance

FANG stock opened at $202.63 on Thursday. The firm has a 50 day moving average of $196.46 and a two-hundred day moving average of $192.45. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $216.90. The company has a market capitalization of $56.74 billion, a price-to-earnings ratio of 39.50 and a beta of 0.43. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25.

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 for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. The business had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. Diamondback Energy’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.38 EPS. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 20.14 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

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

Insider Activity

In other news, Director Charles Meloy sold 33,333 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the completion of the sale, the director owned 818,197 shares in the company, valued at approximately $162,338,466.77. This represents a 3.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Profile

Diamondback Energy, Inc is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico. The company’s operations are concentrated primarily in the Midland and Delaware sub-basins.

Diamondback produces crude oil, natural gas and natural gas liquids. Its activities include drilling and completing horizontal wells, operating gathering and infrastructure assets, and managing mineral and royalty interests through its Viper Energy platform.