Rational Advisors Inc. Buys Shares of 4,233 Diamondback Energy, Inc. $FANG

Rational Advisors Inc. bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, Holdings Channel reports. The institutional investor bought 4,233 shares of the oil and natural gas company’s stock, valued at approximately $744,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at about $3,303,362,000. Wellington Management Group LLP raised its stake in Diamondback Energy by 31.3% during the second quarter. Wellington Management Group LLP now owns 16,420,247 shares of the oil and natural gas company’s stock worth $2,886,351,000 after acquiring an additional 3,918,943 shares during the period. Boston Partners raised its stake in Diamondback Energy by 2.9% during the third quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after acquiring an additional 163,548 shares during the period. Geode Capital Management LLC lifted its holdings in Diamondback Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after acquiring an additional 14,625 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Diamondback Energy by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock worth $775,607,000 after acquiring an additional 532,756 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Diamondback Energy news, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the transaction, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the sale, the executive vice president directly owned 46,392 shares of the company’s stock, valued at $9,303,451.68. The trade was a 9.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 129,167 shares of company stock worth $24,714,309 over the last 90 days. Insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the subject of several recent research reports. UBS Group lowered their target price on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Zacks Research downgraded Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings upgraded Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Jefferies Financial Group restated a “hold” rating and set a $205.00 price objective on shares of Diamondback Energy in a research note on Sunday, August 9th. Finally, Truist Financial increased their target price on Diamondback Energy from $220.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Four investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $222.21.

Diamondback Energy Price Performance

NASDAQ FANG opened at $197.67 on Friday. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $216.90. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The stock has a market cap of $55.35 billion, a price-to-earnings ratio of 38.53 and a beta of 0.43. The company has a 50-day moving average price of $193.25 and a two-hundred day moving average price of $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 for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. The company had revenue of $5.56 billion for 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 business’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.38 earnings per share. Analysts forecast that Diamondback Energy, Inc. will post 20.13 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced 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 of this dividend was Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.2%. Diamondback Energy’s payout ratio is presently 85.77%.

Diamondback Energy Company Profile

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.