Diamondback Energy, Inc. $FANG Shares Acquired by Lynx Investment Advisory

Lynx Investment Advisory lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,866 shares of the oil and natural gas company’s stock after purchasing an additional 127 shares during the quarter. Lynx Investment Advisory’s holdings in Diamondback Energy were worth $394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BankPlus Trust Department acquired a new position in shares of Diamondback Energy during the 1st quarter worth $27,000. Pinnacle Bancorp Inc. grew its stake in shares of Diamondback Energy by 95.7% during the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 88 shares during the period. SouthState Corp grew its stake in shares of Diamondback Energy by 596.4% during the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 167 shares during the period. Grove Bank & Trust grew its stake in shares of Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 80 shares during the period. Finally, WASHINGTON TRUST Co grew its stake in shares of Diamondback Energy by 119.8% during the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 109 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on FANG. Melius Research began coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target on the stock. Wall Street Zen lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Raymond James Financial decreased their price objective on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, August 20th. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Finally, William Blair began coverage on shares of Diamondback Energy in a research report on Monday, August 25th. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company. According to MarketBeat, Diamondback Energy has a consensus rating of “Buy” and an average target price of $193.39.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $143.10 on Wednesday. The firm has a market cap of $41.43 billion, a price-to-earnings ratio of 10.17 and a beta of 1.14. 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 company’s 50-day moving average is $142.85 and its two-hundred day moving average is $141.74. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $200.47.

Diamondback Energy (NASDAQ:FANG) last released 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 firm had revenue of $3.68 billion during 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%. Diamondback Energy’s revenue for the quarter was up 48.1% on a year-over-year basis. During the same quarter last year, the company posted $4.52 earnings per share. Research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is 28.43%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the company’s 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 transaction, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.