Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Covestor Ltd

Covestor Ltd grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 105.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 560 shares of the oil and natural gas company’s stock after buying an additional 288 shares during the period. Covestor Ltd’s holdings in Diamondback Energy were worth $111,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FANG. Ontario Teachers Pension Plan Board raised its position in Diamondback Energy by 39.3% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 19,249 shares of the oil and natural gas company’s stock worth $3,815,000 after buying an additional 5,426 shares during the last quarter. Spirepoint Private Client LLC acquired a new stake in shares of Diamondback Energy in the first quarter worth approximately $5,604,000. Intech Investment Management LLC boosted its position in shares of Diamondback Energy by 49.8% in the first quarter. Intech Investment Management LLC now owns 15,618 shares of the oil and natural gas company’s stock worth $3,095,000 after acquiring an additional 5,190 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in Diamondback Energy by 9.4% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,953 shares of the oil and natural gas company’s stock valued at $387,000 after buying an additional 168 shares during the period. Finally, Homestead Advisers Corp purchased a new position in Diamondback Energy in the first quarter valued at approximately $87,940,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Down 2.5 %

NASDAQ FANG traded down $5.06 on Tuesday, hitting $199.62. 646,378 shares of the company were exchanged, compared to its average volume of 1,580,581. The company’s 50 day moving average price is $197.76 and its 200-day moving average price is $187.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. The firm has a market capitalization of $35.60 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 1.14 and a beta of 1.90. Diamondback Energy, Inc. has a twelve month low of $141.98 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $0.21. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.10 EPS. Analysts predict that Diamondback Energy, Inc. will post 18.7 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.80%. Diamondback Energy’s payout ratio is presently 20.29%.

Insiders Place Their Bets

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the sale, the chief operating officer now owns 69,677 shares in the company, valued at approximately $13,736,123.78. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the transaction, the vice president now directly owns 7,585 shares in the company, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FANG shares. Bank of America lifted their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Piper Sandler boosted their price target on shares of Diamondback Energy from $247.00 to $249.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Mizuho lifted their price objective on shares of Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, KeyCorp assumed coverage on shares of Diamondback Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.65.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.