Signaturefd LLC boosted its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 81.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,969 shares of the oil and natural gas company’s stock after purchasing an additional 882 shares during the period. Signaturefd LLC’s holdings in Diamondback Energy were worth $215,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the business. Delek Group Ltd. lifted its stake in shares of Diamondback Energy by 13.9% in the 1st quarter. Delek Group Ltd. now owns 221,860 shares of the oil and natural gas company’s stock worth $22,414,000 after acquiring an additional 27,060 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of Diamondback Energy by 3.4% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 126,008 shares of the oil and natural gas company’s stock valued at $12,794,000 after purchasing an additional 4,146 shares during the period. Trexquant Investment LP acquired a new stake in shares of Diamondback Energy in the first quarter valued at about $4,545,000. Alphasimplex Group LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at about $1,031,000. Finally, Scout Investments Inc. lifted its stake in shares of Diamondback Energy by 7.6% in the second quarter. Scout Investments Inc. now owns 208,270 shares of the oil and natural gas company’s stock valued at $22,695,000 after purchasing an additional 14,703 shares during the period. 99.48% of the stock is currently owned by institutional investors.
Several analysts recently commented on FANG shares. JPMorgan Chase & Co. reduced their price objective on shares of Diamondback Energy from $155.00 to $149.00 and set an “overweight” rating for the company in a research note on Wednesday. MKM Partners started coverage on shares of Diamondback Energy in a research note on Friday, June 28th. They issued a “buy” rating for the company. Raymond James upgraded shares of Diamondback Energy from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, May 9th. BidaskClub upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Oppenheimer set a $151.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-five have given a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $157.30.
Shares of FANG opened at $96.31 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $15.80 billion, a PE ratio of 16.41, a P/E/G ratio of 0.64 and a beta of 0.82. The business’s 50-day simple moving average is $103.02. Diamondback Energy Inc has a 12-month low of $85.19 and a 12-month high of $140.78.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.04). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a return on equity of 6.50% and a net margin of 26.92%. The business’s revenue was up 93.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 EPS. Research analysts predict that Diamondback Energy Inc will post 7.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 16th will be given a dividend of $0.188 per share. This represents a $0.75 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Thursday, August 15th. Diamondback Energy’s payout ratio is currently 12.78%.
Diamondback Energy Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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