Diamondback Energy, Inc. $FANG Stake Boosted by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 69.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 471,944 shares of the oil and natural gas company’s stock after purchasing an additional 193,181 shares during the quarter. Diamondback Energy comprises approximately 2.9% of Encompass Capital Advisors LLC’s portfolio, making the stock its 9th biggest position. Encompass Capital Advisors LLC’s holdings in Diamondback Energy were worth $75,454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Investor s Fiduciary Advisor Network LLC boosted its stake in Diamondback Energy by 2.1% in the 1st quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company’s stock worth $569,000 after purchasing an additional 74 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in shares of Diamondback Energy by 5.6% during the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock worth $226,000 after buying an additional 75 shares during the period. FourThought Financial Partners LLC grew its holdings in shares of Diamondback Energy by 2.9% during the first quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock valued at $444,000 after buying an additional 78 shares during the last quarter. Grove Bank & Trust increased its position in shares of Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 80 shares during the period. Finally, Biondo Investment Advisors LLC raised its stake in Diamondback Energy by 0.3% in the 1st quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company’s stock worth $4,614,000 after acquiring an additional 80 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research analyst reports. Morgan Stanley boosted their price target on Diamondback Energy from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Melius Research began coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target on the stock. Bank of America lifted their price objective on Diamondback Energy from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Melius assumed coverage on Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price on the stock. Finally, UBS Group lifted their price target on Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Diamondback Energy has an average rating of “Buy” and a consensus price target of $193.17.

Insiders Place Their Bets

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction dated 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 sale, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. The trade was a 16.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Down 5.1%

Shares of FANG opened at $142.29 on Thursday. The firm has a market cap of $41.19 billion, a P/E ratio of 10.11 and a beta of 1.14. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $200.47. The stock’s 50 day moving average is $142.91 and its two-hundred day moving average is $143.11. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35.

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

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given 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 was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is 28.43%.

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.