Swedbank AB Boosts Stake in Diamondback Energy, Inc. $FANG

Swedbank AB raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 200,091 shares of the oil and natural gas company’s stock after purchasing an additional 1,808 shares during the period. Swedbank AB’s holdings in Diamondback Energy were worth $31,991,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Diamondback Energy during the 1st quarter worth $230,039,000. GAMMA Investing LLC grew its holdings in Diamondback Energy by 16,197.8% during the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company’s stock worth $96,827,000 after acquiring an additional 601,909 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Diamondback Energy during the 1st quarter worth $77,622,000. Two Sigma Investments LP grew its holdings in Diamondback Energy by 5,748.3% during 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 acquiring an additional 440,953 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Diamondback Energy by 27.3% during 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 acquiring an additional 418,431 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FANG has been the subject of several recent analyst reports. Melius Research initiated coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. Raymond James Financial decreased their price objective on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a report on Wednesday, August 20th. Wells Fargo & Company raised their price objective on shares of Diamondback Energy from $210.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Bank of America lifted their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, William Blair assumed coverage on shares of Diamondback Energy in a report on Monday, August 25th. They issued an “outperform” rating for the company. Two 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average 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 shares were 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 $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Down 1.1%

NASDAQ FANG opened at $136.88 on Friday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $200.47. The company has a 50-day simple moving average of $142.68 and a 200-day simple moving average of $142.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The firm has a market capitalization of $39.63 billion, a PE ratio of 9.73 and a beta of 1.14.

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). The business had revenue of $3.68 billion during the quarter, compared to analyst estimates 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 period last year, the firm posted $4.52 earnings per share. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a $1.00 dividend. The ex-dividend date was Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.9%. Diamondback Energy’s dividend payout ratio (DPR) is currently 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.