Leeward Investments LLC MA Increases Stock Position in Diamondback Energy, Inc. $FANG

Leeward Investments LLC MA grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 15.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,208 shares of the oil and natural gas company’s stock after purchasing an additional 8,412 shares during the period. Leeward Investments LLC MA’s holdings in Diamondback Energy were worth $8,685,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its holdings in shares of Diamondback Energy by 4.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company’s stock valued at $5,784,000 after purchasing an additional 1,384 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Diamondback Energy by 50.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company’s stock valued at $1,143,000 after purchasing an additional 2,397 shares during the last quarter. True North Advisors LLC purchased a new stake in shares of Diamondback Energy in the first quarter valued at about $327,000. Wealth Advisory Solutions LLC purchased a new stake in Diamondback Energy during the first quarter worth about $2,631,000. Finally, Nuveen LLC purchased a new stake in Diamondback Energy during the first quarter worth about $230,039,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Diamondback Energy from $211.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, October 17th. Mizuho decreased their price objective on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Evercore ISI raised their price objective on shares of Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Morgan Stanley decreased their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Diamondback Energy in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Diamondback Energy presently has an average rating of “Buy” and an average price target of $189.91.

Insider Buying and Selling

In related news, Chairman Travis D. Stice sold 20,400 shares of the business’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 transaction of $2,913,120.00. Following the completion of the transaction, the chairman owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. The trade was 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 accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $145.86 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $42.23 billion, a PE ratio of 10.37 and a beta of 1.04. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $186.07. The company has a 50-day moving average price of $142.61 and a two-hundred day moving average price of $140.99.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.52 EPS. Equities analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS 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 paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.7%. Diamondback Energy’s payout ratio is currently 28.43%.

About Diamondback Energy

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.