Rosenberg Matthew Hamilton Boosts Stake in Diamondback Energy, Inc. $FANG

Rosenberg Matthew Hamilton raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 42.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,055 shares of the oil and natural gas company’s stock after purchasing an additional 315 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Diamondback Energy were worth $145,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FANG. Farther Finance Advisors LLC raised its position in Diamondback Energy by 36.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,085 shares of the oil and natural gas company’s stock worth $174,000 after purchasing an additional 287 shares during the period. Dynamic Advisor Solutions LLC grew its stake in Diamondback Energy by 14.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,030 shares of the oil and natural gas company’s stock worth $644,000 after acquiring an additional 494 shares in the last quarter. Brighton Jones LLC grew its stake in Diamondback Energy by 12.3% in the 1st quarter. Brighton Jones LLC now owns 1,803 shares of the oil and natural gas company’s stock worth $288,000 after acquiring an additional 198 shares in the last quarter. Cyndeo Wealth Partners LLC bought a new position in Diamondback Energy in the 1st quarter worth about $341,000. Finally, Sowell Financial Services LLC bought a new position in Diamondback Energy in the 1st quarter worth about $1,382,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on FANG. William Blair began coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Piper Sandler dropped their target price on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Wall Street Zen downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Mizuho dropped their target price on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Finally, Evercore ISI upped their target price on shares of Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $192.23.

Insiders Place Their Bets

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Price Performance

NASDAQ FANG opened at $141.94 on Thursday. 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’s 50 day moving average price is $142.27 and its 200-day moving average price is $140.80. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $186.74. The company has a market cap of $41.09 billion, a PE ratio of 10.09 and a beta of 1.04.

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 for the quarter, missing the consensus estimate of $2.72 by ($0.05). The firm 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%. Diamondback Energy’s revenue was up 48.1% on a year-over-year basis. During the same quarter last year, the business earned $4.52 earnings per share. Sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal 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 paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s dividend payout ratio (DPR) is 28.43%.

Diamondback Energy 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.