Wilkinson Global Asset Management LLC Makes New Investment in Diamondback Energy, Inc. $FANG

Wilkinson Global Asset Management LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, Holdings Channel.com reports. The fund bought 3,750 shares of the oil and natural gas company’s stock, valued at approximately $659,000.

Other hedge funds have also modified their holdings of the company. Cedar Mountain Advisors LLC purchased a new position in shares of Diamondback Energy in the first quarter worth about $26,000. Laurel Wealth Advisors LLC purchased a new stake in Diamondback Energy during the 4th quarter valued at about $26,000. JPL Wealth Management LLC purchased a new stake in Diamondback Energy during the 3rd quarter valued at about $26,000. Wellington Shields & Co. LLC grew its stake in Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after acquiring an additional 135 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in Diamondback Energy in the 1st quarter valued at about $40,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $202.47 on Monday. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $214.51. The stock’s fifty day moving average is $190.31 and its two-hundred day moving average is $187.74. The company has a market capitalization of $56.70 billion, a P/E ratio of 39.47 and a beta of 0.43. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25.

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, topping analysts’ consensus estimates of $6.08 by $0.40. The business had revenue of $5.56 billion during 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 company’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.38 EPS. Equities analysts expect that Diamondback Energy, Inc. will post 19.73 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be given a $1.10 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy’s dividend payout ratio is presently 85.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FANG shares. Jefferies Financial Group reissued a “hold” rating and issued a $205.00 target price on shares of Diamondback Energy in a research note on Sunday, August 9th. Susquehanna upped their price target on Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. UBS Group cut their price target on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Sanford C. Bernstein lifted their price objective on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Roth Capital set a $212.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, June 22nd. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $222.30.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 7,000 shares of the 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 completion of the transaction, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the sale, the director owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 134,167 shares of company stock worth $25,749,309. 0.64% of the stock is owned by corporate insiders.

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.