FNY Investment Advisers LLC Acquires New Position in Diamondback Energy, Inc. $FANG

FNY Investment Advisers LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, Holdings Channel.com reports. The fund acquired 400 shares of the oil and natural gas company’s stock, valued at approximately $54,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Uhlmann Price Securities LLC increased its stake in Diamondback Energy by 1.3% in the second quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock valued at $699,000 after acquiring an additional 67 shares during the last quarter. Investor s Fiduciary Advisor Network LLC increased its stake in Diamondback Energy by 2.1% in the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company’s stock valued at $569,000 after acquiring an additional 74 shares during the last quarter. Mesirow Financial Investment Management Inc. grew 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 last quarter. FourThought Financial Partners LLC grew its stake 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 worth $444,000 after buying an additional 78 shares during the last quarter. Finally, Biondo Investment Advisors LLC grew its stake in shares of Diamondback Energy by 0.3% during the first quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company’s stock worth $4,614,000 after buying an additional 80 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Piper Sandler decreased 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. Raymond James Financial decreased their target price on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, August 20th. UBS Group boosted their target price on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Finally, William Blair assumed coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $189.91.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $147.17 on Friday. The firm has a market cap of $42.60 billion, a PE ratio of 10.46 and a beta of 1.04. The firm’s fifty day moving average is $142.50 and its 200-day moving average is $140.66. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $186.07.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 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 analyst estimates of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.Diamondback Energy’s revenue for the quarter was up 48.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.52 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s payout ratio is 28.43%.

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the business’s stock in a transaction 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 transaction, the chairman owned 102,145 shares in the company, valued at $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

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.