Emerald Investment Advisers LLC Purchases Shares of 44,785 Diamondback Energy, Inc. $FANG

Emerald Investment Advisers LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, Holdings Channel reports. The fund acquired 44,785 shares of the oil and natural gas company’s stock, valued at approximately $7,872,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Diamondback Energy in the second quarter valued at $3,303,362,000. Bank of New York Mellon Corp purchased a new stake in shares of Diamondback Energy in the 2nd quarter valued at about $852,791,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at about $268,855,000. Wellington Management Group LLP grew its stake in Diamondback Energy by 74.1% during the 4th quarter. Wellington Management Group LLP now owns 3,239,837 shares of the oil and natural gas company’s stock worth $487,045,000 after buying an additional 1,379,010 shares during the last quarter. Finally, EnCap Energy Capital Fund XII L.P. purchased a new stake in Diamondback Energy in the fourth quarter valued at approximately $169,342,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction dated 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 sale, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. The trade was a 9.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Teresa L. Dick sold 7,000 shares of the company’s 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 transaction, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 129,167 shares of company stock valued at $24,714,309 in the last quarter. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $210.72 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. The firm has a market cap of $59.01 billion, a PE ratio of 41.08 and a beta of 0.43. The firm has a 50 day simple moving average of $191.79 and a 200-day simple moving average of $189.22. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $216.90.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, topping the consensus estimate of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the company earned $2.38 EPS. Diamondback Energy’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities analysts expect that Diamondback Energy, Inc. will post 19.78 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were given a dividend of $1.10 per share. The ex-dividend date was Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.1%. Diamondback Energy’s dividend payout ratio is 85.77%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FANG shares. UBS Group lowered their target price on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Truist Financial lifted their price objective on shares of Diamondback Energy from $220.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Morgan Stanley reiterated an “equal weight” rating and set a $216.00 target price on shares of Diamondback Energy in a research note on Wednesday. Sanford C. Bernstein boosted their price target on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Wall Street Zen raised Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $222.21.

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.