TFR Capital LLC. Makes New $1.46 Million Investment in Diamondback Energy, Inc. $FANG

TFR Capital LLC. purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 8,287 shares of the oil and natural gas company’s stock, valued at approximately $1,457,000.

Other hedge funds have also recently modified their holdings of the company. Boston Partners raised its holdings in Diamondback Energy by 2.9% in the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after purchasing an additional 163,548 shares during the period. Geode Capital Management LLC lifted its position in Diamondback Energy by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock valued at $844,073,000 after purchasing an additional 14,625 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Diamondback Energy by 11.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after purchasing an additional 532,756 shares during the period. Capital Research Global Investors grew its holdings in Diamondback Energy by 14.1% during the fourth quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after purchasing an additional 534,073 shares during the period. Finally, Morgan Stanley grew its holdings in Diamondback Energy by 3.2% during the fourth quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company’s stock valued at $575,605,000 after purchasing an additional 117,798 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the transaction, the executive vice president directly owned 46,392 shares in the company, valued at $9,303,451.68. This represents a 9.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 134,167 shares of company stock worth $25,749,309 over the last quarter. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Trading Up 1.5%

Shares of FANG stock opened at $202.47 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The stock has a fifty day simple moving average of $190.31 and a two-hundred day simple moving average of $187.50. The firm has a market capitalization of $56.70 billion, a PE ratio of 39.47 and a beta of 0.43. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the business earned $2.38 earnings per share. The business’s revenue was up 51.2% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 19.73 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 13th. Diamondback Energy’s dividend payout ratio (DPR) is 85.77%.

Analysts Set New Price Targets

Several research firms have recently commented on FANG. Morgan Stanley decreased their price objective on Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Mizuho boosted their price objective on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Jefferies Financial Group reiterated a “hold” rating and set a $205.00 price objective on shares of Diamondback Energy in a research note on Sunday, August 9th. Barclays increased their target price on shares of Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings upgraded shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Buy” and an average target price of $222.30.

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.