Jupiter Topco LLC Purchases Shares of 70,250 Diamondback Energy, Inc. $FANG

Jupiter Topco LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 70,250 shares of the oil and natural gas company’s stock, valued at approximately $12,348,000.

Several other institutional investors also recently modified their holdings of FANG. Cresset Asset Management LLC grew its position in shares of Diamondback Energy by 37.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock valued at $649,000 after buying an additional 1,288 shares during the last quarter. Jump Financial LLC bought a new position in shares of Diamondback Energy during the second quarter worth about $2,301,000. Cerity Partners LLC lifted its stake in shares of Diamondback Energy by 13.5% in the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock worth $7,022,000 after acquiring an additional 6,069 shares during the period. AXA S.A. lifted its stake in shares of Diamondback Energy by 8.5% in the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock worth $7,194,000 after acquiring an additional 4,103 shares during the period. Finally, Sei Investments Co. boosted its holdings in Diamondback Energy by 37.1% in the second quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock valued at $21,239,000 after acquiring an additional 41,866 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 1.4%

FANG opened at $197.67 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $216.90. The firm has a market capitalization of $55.35 billion, a PE ratio of 38.53 and a beta of 0.43. The company’s 50-day moving average is $193.25 and its 200 day moving average is $190.49.

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. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the business earned $2.38 EPS. The company’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, research analysts predict that Diamondback Energy, Inc. will post 20.13 earnings per share 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 paid a dividend of $1.10 per share. The ex-dividend date was Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.2%. Diamondback Energy’s dividend payout ratio (DPR) is 85.77%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $248.00 target price on shares of Diamondback Energy in a research report on Friday, July 31st. UBS Group reduced their price objective on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Jefferies Financial Group reiterated a “hold” rating and set a $205.00 price objective on shares of Diamondback Energy in a research report on Sunday, August 9th. Weiss Ratings raised shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Finally, Wells Fargo & Company boosted their target price on shares of Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Four 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.21.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director owned 13,437 shares in the company, valued at $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the transaction, the chief accounting officer directly owned 85,755 shares in the company, valued at $17,228,179.50. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 129,167 shares of company stock valued at $24,714,309 in the last 90 days. 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.