J2 Capital Management Inc Has $250,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

J2 Capital Management Inc cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 55.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,562 shares of the oil and natural gas company’s stock after selling 1,946 shares during the period. J2 Capital Management Inc’s holdings in Diamondback Energy were worth $250,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FANG. Wintrust Investments LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $33,000. Key Financial Inc raised its position in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $38,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $134.99 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The stock has a market cap of $39.44 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm’s 50-day simple moving average is $137.66 and its 200 day simple moving average is $155.21.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter last year, the firm earned $4.50 EPS. The firm’s revenue for the quarter was up 81.8% compared to the same quarter last year. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.96%. Diamondback Energy’s dividend payout ratio is currently 24.46%.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of analyst reports. Scotiabank dropped their price target on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Raymond James restated a “strong-buy” rating on shares of Diamondback Energy in a research report on Thursday, May 22nd. Susquehanna decreased their target price on shares of Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada assumed coverage on shares of Diamondback Energy in a research note on Friday, May 2nd. They set an “outperform” rating and a $180.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $193.09.

Insiders Place Their Bets

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president now owns 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.