Womack Financial LLC Purchases Shares of 2,840 Diamondback Energy, Inc. $FANG

Womack Financial LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,840 shares of the oil and natural gas company’s stock, valued at approximately $499,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FANG. Cresset Asset Management LLC grew its stake in Diamondback Energy by 37.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock valued at $649,000 after buying an additional 1,288 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Diamondback Energy during the second quarter worth approximately $2,301,000. Cerity Partners LLC boosted its holdings in shares of Diamondback Energy by 13.5% during the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock worth $7,022,000 after acquiring an additional 6,069 shares during the period. AXA S.A. grew its position in shares of Diamondback Energy by 8.5% in the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock valued at $7,194,000 after purchasing an additional 4,103 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Diamondback Energy by 37.1% in the second quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock valued at $21,239,000 after purchasing an additional 41,866 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 2.4%

Shares of NASDAQ FANG opened at $205.60 on Tuesday. The stock has a market capitalization of $57.57 billion, a P/E ratio of 40.08 and a beta of 0.43. The stock’s fifty day moving average is $192.10 and its 200 day moving average is $189.74. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $216.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share 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 business had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the business posted $2.38 earnings per share. Diamondback Energy’s revenue was up 51.2% compared to the same quarter last year. Sell-side analysts forecast that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy’s dividend payout ratio (DPR) is 85.77%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wolfe Research reissued an “outperform” rating and set a $206.00 price target on shares of Diamondback Energy in a report on Tuesday, August 4th. Raymond James Financial reiterated a “strong-buy” rating and set a $248.00 price objective on shares of Diamondback Energy in a research report on Friday, July 31st. Truist Financial lifted their target price on Diamondback Energy from $220.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Roth Capital set a $212.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Monday, June 22nd. 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 analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $222.21.

Insider Activity

In other news, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction 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 transaction, the executive vice president owned 46,392 shares in the company, valued at approximately $9,303,451.68. This trade represents a 9.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the transaction, the director owned 13,437 shares in the company, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 129,167 shares of company stock valued at $24,714,309. 0.64% of the stock is owned by insiders.

About Diamondback Energy

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.