Usca Ria LLC acquired a new stake in shares of Diamondback Energy Inc (NASDAQ:FANG) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 15,044 shares of the oil and natural gas company’s stock, valued at approximately $1,639,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Archford Capital Strategies LLC increased its holdings in shares of Diamondback Energy by 1,100.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Berman Capital Advisors LLC increased its holdings in shares of Diamondback Energy by 180.8% during the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 188 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Diamondback Energy during the 2nd quarter valued at approximately $32,000. Manchester Capital Management LLC purchased a new position in shares of Diamondback Energy during the 1st quarter valued at approximately $34,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Diamondback Energy during the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds own 99.48% of the company’s stock.
FANG traded up $1.45 on Friday, hitting $97.26. 1,302,500 shares of the company’s stock were exchanged, compared to its average volume of 1,932,440. Diamondback Energy Inc has a fifty-two week low of $85.19 and a fifty-two week high of $140.78. 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 50-day moving average price of $102.56 and a 200-day moving average price of $103.24. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 0.64 and a beta of 0.82.
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 the consensus estimate of $1.74 by ($0.04). Diamondback Energy had a return on equity of 6.50% and a net margin of 26.92%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the firm earned $1.59 EPS. The company’s revenue for the quarter was up 93.7% compared to the same quarter last year. On average, equities analysts predict that Diamondback Energy Inc will post 7.27 EPS for the current 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 paid a dividend of $0.188 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.75 annualized dividend and a yield of 0.77%. Diamondback Energy’s dividend payout ratio (DPR) is presently 12.78%.
FANG has been the subject of several recent research reports. BidaskClub raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Thursday. Oppenheimer set a $151.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley cut their target price on shares of Diamondback Energy from $143.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday. MKM Partners started coverage on shares of Diamondback Energy in a report on Friday, June 28th. They set a “buy” rating for the company. Finally, KeyCorp boosted their price target on shares of Diamondback Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $156.60.
In other news, VP Russell Pantermuehl sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total transaction of $560,900.00. Following the transaction, the vice president now owns 117,107 shares of the company’s stock, valued at approximately $13,137,063.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $107.47, for a total transaction of $161,205.00. Following the transaction, the chief financial officer now directly owns 27,465 shares in the company, valued at approximately $2,951,663.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,500 shares of company stock worth $1,258,505. 0.47% of the stock is currently owned by corporate insiders.
About Diamondback Energy
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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