Dockside LLC Takes $2.12 Million Position in Diamondback Energy, Inc. $FANG

Dockside LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, Holdings Channel.com reports. The fund purchased 12,038 shares of the oil and natural gas company’s stock, valued at approximately $2,116,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners grew its position in Diamondback Energy by 2.9% in the third quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock valued at $821,649,000 after acquiring an additional 163,548 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Diamondback Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after acquiring an additional 14,625 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Diamondback Energy by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after purchasing an additional 532,756 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Diamondback Energy by 14.1% during the 4th quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after purchasing an additional 534,073 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Diamondback Energy by 3.2% during the 4th quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company’s stock valued at $575,605,000 after purchasing an additional 117,798 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $202.47 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The company has a 50 day simple moving average of $190.31 and a two-hundred day simple moving average of $187.50. The company has a market capitalization of $56.70 billion, a PE ratio of 39.47 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the firm posted $2.38 EPS. The company’s quarterly revenue was up 51.2% on a year-over-year basis. Research analysts anticipate that Diamondback Energy, Inc. will post 19.73 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy’s dividend payout ratio is 85.77%.

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director directly owned 13,437 shares of the company’s stock, valued at $2,640,370.50. The trade was a 3.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the sale, the executive vice president directly owned 46,392 shares of the company’s stock, valued at $9,303,451.68. This represents a 9.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 134,167 shares of company stock worth $25,749,309. 0.64% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FANG. Susquehanna upped their price target on shares of Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Wells Fargo & Company increased their target price on Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings raised Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Wall Street Zen upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Sanford C. Bernstein upped their price objective on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Diamondback Energy presently has an average rating of “Buy” and a consensus price target of $222.30.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.