Keeley Teton Advisors LLC Raises Holdings in Diamondback Energy, Inc. $FANG

Keeley Teton Advisors LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,245 shares of the oil and natural gas company’s stock after buying an additional 131 shares during the period. Keeley Teton Advisors LLC’s holdings in Diamondback Energy were worth $1,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Diamondback Energy during the 1st quarter valued at approximately $230,039,000. Alyeska Investment Group L.P. bought a new position in Diamondback Energy during the fourth quarter valued at $185,193,000. GAMMA Investing LLC lifted its position in Diamondback Energy by 16,197.8% during the first quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company’s stock valued at $96,827,000 after purchasing an additional 601,909 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Diamondback Energy by 5,748.3% in the 4th quarter. Two Sigma Investments LP now owns 448,624 shares of the oil and natural gas company’s stock worth $73,498,000 after buying an additional 440,953 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Diamondback Energy by 27.3% in the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock worth $311,792,000 after buying an additional 418,431 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Down 0.9%

NASDAQ:FANG opened at $143.96 on Wednesday. The company has a market cap of $41.67 billion, a price-to-earnings ratio of 10.23 and a beta of 1.09. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $200.47. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $142.49 and a 200-day simple moving average of $143.45.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the business earned $4.52 EPS. The company’s quarterly revenue was up 48.1% on a year-over-year basis. Analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s payout ratio is currently 28.43%.

Analysts Set New Price Targets

Several research analysts recently commented on FANG shares. Piper Sandler dropped their price target on Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating for the company in a research report on Thursday, August 14th. William Blair initiated coverage on Diamondback Energy in a report on Monday. They issued an “outperform” rating for the company. Raymond James Financial decreased their price target on Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a report on Wednesday, August 20th. Melius Research assumed coverage on Diamondback Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target for the company. Finally, UBS Group boosted their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $193.33.

Insider Activity

In related news, Chairman Travis D. Stice sold 20,400 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the sale, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Company 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.