Quantitative Investment Management LLC Takes Position in Diamondback Energy, Inc. $FANG

Quantitative Investment Management LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,691 shares of the oil and natural gas company’s stock, valued at approximately $1,176,000.

Other institutional investors have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC bought a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new stake in shares of Diamondback Energy during the second quarter valued at approximately $28,000. JPL Wealth Management LLC bought a new stake in shares of Diamondback Energy during the third quarter valued at approximately $26,000. Wellington Shields & Co. LLC raised its stake in shares of Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 135 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new position in shares of Diamondback Energy in the first quarter valued at $40,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 500 shares of the company’s 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 transaction, the director owned 13,437 shares in the company, valued at $2,640,370.50. This represents a 3.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Alvin Meloy sold 33,333 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the sale, the director directly owned 818,197 shares in the company, valued at approximately $162,338,466.77. This represents a 3.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 117,167 shares of company stock valued at $22,305,309. 0.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FANG has been the topic of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating and set a $205.00 price target on shares of Diamondback Energy in a research note on Sunday, August 9th. Wolfe Research restated an “outperform” rating and issued a $206.00 price objective on shares of Diamondback Energy in a research note on Tuesday, August 4th. Truist Financial raised their price objective on shares of Diamondback Energy from $220.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. UBS Group decreased 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. Finally, Susquehanna upped their target price on shares of Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $222.21.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $200.48 on Tuesday. The stock has a market capitalization of $56.14 billion, a price-to-earnings ratio of 39.08 and a beta of 0.43. The firm’s 50-day moving average price is $193.50 and its two-hundred day moving average price is $190.92. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $216.90.

Diamondback Energy (NASDAQ:FANG) last announced 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 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 EPS. Diamondback Energy’s revenue was up 51.2% compared to the same quarter last year. On average, equities analysts predict that Diamondback Energy, Inc. will post 20.13 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 20th. Stockholders of record on Thursday, August 13th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Thursday, August 13th. Diamondback Energy’s dividend payout ratio is presently 85.77%.

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.