Aurora Investment Counsel Purchases 379 Shares of Diamondback Energy, Inc. $FANG

Aurora Investment Counsel raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,324 shares of the oil and natural gas company’s stock after purchasing an additional 379 shares during the period. Aurora Investment Counsel’s holdings in Diamondback Energy were worth $1,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of FANG. Nuveen LLC bought a new stake in Diamondback Energy during the 1st quarter valued at $230,039,000. Adage Capital Partners GP L.L.C. bought a new stake in Diamondback Energy during the 1st quarter valued at $77,622,000. Wellington Management Group LLP raised its position in Diamondback Energy by 27.3% during the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock valued at $311,792,000 after purchasing an additional 418,431 shares in the last quarter. Victory Capital Management Inc. raised its position in Diamondback Energy by 50.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,135,759 shares of the oil and natural gas company’s stock valued at $181,585,000 after purchasing an additional 381,542 shares in the last quarter. Finally, Boston Partners raised its position in Diamondback Energy by 4.8% during the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock valued at $861,961,000 after purchasing an additional 249,098 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Trading Up 1.5%

Shares of NASDAQ:FANG opened at $141.19 on Tuesday. The business’s 50-day moving average is $142.26 and its 200 day moving average is $140.48. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $186.74. The firm has a market capitalization of $40.87 billion, a P/E ratio of 10.03 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

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 (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the company earned $4.52 earnings per share. The company’s quarterly revenue was up 48.1% on a year-over-year basis. On average, research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is currently 28.43%.

Analyst Upgrades and Downgrades

FANG has been the subject of several recent research reports. Melius Research initiated coverage on Diamondback Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target for the company. Barclays reduced their price target on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Piper Sandler reduced their price target on Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating for the company in a research report on Thursday, August 14th. Mizuho reduced their price target on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, Melius initiated coverage on Diamondback Energy in a research report 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, twenty have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $189.91.

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, 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 filing with the SEC, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Diamondback Energy 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.