Winch Advisory Services LLC grew its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 9.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,045 shares of the oil and natural gas company’s stock after buying an additional 1,086 shares during the period. Winch Advisory Services LLC’s holdings in Diamondback Energy were worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Archford Capital Strategies LLC lifted its holdings in 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 worth $26,000 after buying an additional 220 shares during the last quarter. Berman Capital Advisors LLC lifted its holdings in 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 worth $29,000 after buying an additional 188 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Diamondback Energy during the 2nd quarter worth about $32,000. Manchester Capital Management LLC purchased a new stake in Diamondback Energy during the 1st quarter worth about $34,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Diamondback Energy during the 2nd quarter worth about $44,000. 99.35% of the stock is owned by institutional investors.
FANG traded down $4.63 on Friday, hitting $94.60. 1,778,982 shares of the company traded hands, compared to its average volume of 1,959,531. The company has a 50 day moving average of $101.33 and a 200-day moving average of $103.08. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $16.18 billion, a PE ratio of 16.12, a PEG ratio of 0.85 and a beta of 0.82. Diamondback Energy Inc has a 12-month low of $85.19 and a 12-month high of $140.78.
The business also recently disclosed 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. This represents a $0.75 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Thursday, August 15th. Diamondback Energy’s dividend payout ratio is presently 12.78%.
A number of analysts have issued reports on FANG shares. Roth Capital decreased their price target on Diamondback Energy from $150.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Williams Capital reaffirmed a “buy” rating and set a $165.00 price target on shares of Diamondback Energy in a report on Tuesday, July 30th. Northland Securities reissued a “buy” rating and issued a $150.00 target price on shares of Diamondback Energy in a report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $155.00 to $149.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Finally, Oppenheimer reduced their target price on Diamondback Energy from $151.00 to $138.00 and set an “outperform” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-two have assigned a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $153.20.
In related news, CEO Travis D. Stice acquired 4,186 shares of Diamondback Energy stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $95.55 per share, with a total value of $399,972.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $107.28, for a total value of $536,400.00. Following the sale, the vice president now directly owns 112,107 shares of the company’s stock, valued at $12,026,838.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,500 shares of company stock valued at $1,199,165. 0.47% of the stock is owned by company insiders.
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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