Highview Capital Management LLC DE Buys New Shares in Diamondback Energy, Inc. $FANG

Highview Capital Management LLC DE acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,643 shares of the oil and natural gas company’s stock, valued at approximately $913,000.

Several other large investors also recently made changes to their positions in the business. Uhlmann Price Securities LLC lifted its holdings in shares of Diamondback Energy by 1.3% during the 2nd 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 in the last quarter. Mesirow Financial Investment Management Inc. raised its position in Diamondback Energy by 5.6% in the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock valued at $226,000 after purchasing an additional 75 shares during the period. FourThought Financial Partners LLC lifted 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 purchasing an additional 78 shares in the last quarter. Biondo Investment Advisors LLC boosted its position in shares of Diamondback Energy by 0.3% in 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 period. Finally, STF Management LP boosted its position in shares of Diamondback Energy by 1.9% in the second quarter. STF Management LP now owns 4,490 shares of the oil and natural gas company’s stock worth $617,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Evercore ISI increased their price objective 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. Raymond James Financial dropped their price target on 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. Melius began coverage on Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target on the stock. Piper Sandler lowered their price objective on Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, KeyCorp cut their target price on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $188.82.

Diamondback Energy Price Performance

Shares of FANG opened at $149.58 on Wednesday. The firm has a market capitalization of $42.86 billion, a price-to-earnings ratio of 10.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $186.07. The stock’s fifty day moving average is $142.96 and its 200-day moving average is $142.33.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.14. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The company’s quarterly revenue was up 48.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.19 earnings per share. Equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th will be issued a $1.00 dividend. The ex-dividend date is Thursday, November 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. Diamondback Energy’s dividend payout ratio (DPR) is 27.80%.

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.