Moody National Bank Trust Division Acquires 9,786 Shares of Diamondback Energy, Inc. $FANG

Moody National Bank Trust Division raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 32.2% in the second quarter, Holdings Channel reports. The firm owned 40,211 shares of the oil and natural gas company’s stock after acquiring an additional 9,786 shares during the quarter. Moody National Bank Trust Division’s holdings in Diamondback Energy were worth $5,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FANG. BankPlus Trust Department bought a new stake in Diamondback Energy during the 1st quarter valued at about $27,000. Pinnacle Bancorp Inc. increased its stake in Diamondback Energy by 95.7% during the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. SouthState Corp increased its stake in Diamondback Energy by 596.4% during the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 167 shares in the last quarter. Grove Bank & Trust increased its stake in Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock valued at $32,000 after purchasing an additional 80 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its stake in Diamondback Energy by 119.8% during the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock valued at $32,000 after purchasing an additional 109 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $140.64 on Friday. The company has a 50 day moving average price of $142.42 and a 200-day moving average price of $141.80. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47. The firm has a market capitalization of $40.71 billion, a PE ratio of 10.00 and a beta of 1.14. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business’s quarterly revenue was up 48.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.52 EPS. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. Diamondback Energy’s dividend payout ratio (DPR) is presently 28.43%.

Analyst Ratings Changes

A number of research firms have weighed in on FANG. Raymond James Financial reduced their price objective on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 20th. William Blair began coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They set an “outperform” rating for the company. Wells Fargo & Company lifted their price target on shares of Diamondback Energy from $210.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. Finally, Melius began coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $193.39.

Insider Activity

In related news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

Diamondback Energy Company Profile

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.