Alpha Family Trust Takes $237,000 Position in Diamondback Energy, Inc. $FANG

Alpha Family Trust bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,485 shares of the oil and natural gas company’s stock, valued at approximately $237,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FANG. Robeco Institutional Asset Management B.V. grew its holdings in shares of Diamondback Energy by 4.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company’s stock worth $5,784,000 after acquiring an additional 1,384 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Diamondback Energy by 6.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company’s stock worth $9,409,000 after purchasing an additional 3,467 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Diamondback Energy by 50.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company’s stock worth $1,143,000 after purchasing an additional 2,397 shares in the last quarter. True North Advisors LLC acquired a new stake in Diamondback Energy during the 1st quarter worth about $327,000. Finally, Wealth Advisory Solutions LLC purchased a new stake in Diamondback Energy during the first quarter valued at about $2,631,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction 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 completion of the sale, the chairman directly owned 102,145 shares of the company’s stock, valued at $14,586,306. This represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ FANG opened at $140.22 on Monday. The company has a market cap of $40.59 billion, a P/E ratio of 9.97 and a beta of 1.09. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $200.47. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $143.65 and a 200 day simple moving average of $144.39.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.05). The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. Diamondback Energy’s revenue for the quarter was up 48.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.52 EPS. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. Diamondback Energy’s payout ratio is 28.43%.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Raymond James Financial increased their target price on Diamondback Energy from $204.00 to $221.00 and gave the company a “strong-buy” rating in a report on Tuesday, July 22nd. Susquehanna lowered their price target on Diamondback Energy from $192.00 to $188.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Piper Sandler reissued an “overweight” rating and set a $222.00 price target (down from $228.00) on shares of Diamondback Energy in a research report on Thursday. Finally, Evercore ISI started coverage on Diamondback Energy in a research report on Tuesday, May 6th. They set an “outperform” rating and a $165.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $191.45.

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.