Crown Advisors Management Inc. Invests $4.39 Million in Diamondback Energy, Inc. $FANG

Crown Advisors Management Inc. purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the oil and natural gas company’s stock, valued at approximately $4,394,000. Diamondback Energy comprises about 2.4% of Crown Advisors Management Inc.’s investment portfolio, making the stock its 13th largest position.

Other hedge funds have also recently modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new stake in Diamondback Energy in the 4th quarter worth about $26,000. Cedar Mountain Advisors LLC purchased a new stake in Diamondback Energy during the 1st quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new stake in Diamondback Energy during the 3rd quarter worth approximately $26,000. Wellington Shields & Co. LLC raised its holdings in shares of Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after acquiring an additional 135 shares during the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research analyst reports. Roth Capital set a $212.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, June 22nd. Jefferies Financial Group reissued a “hold” rating and issued a $205.00 price objective on shares of Diamondback Energy in a research note on Sunday, August 9th. Wells Fargo & Company raised their price objective on Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Wolfe Research reaffirmed an “outperform” rating and set a $206.00 target price on shares of Diamondback Energy in a research note on Tuesday, August 4th. Finally, Morgan Stanley dropped their target price on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $222.30.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $202.47 on Monday. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51. The stock has a market cap of $56.70 billion, a P/E ratio of 39.47 and a beta of 0.43. The business has a fifty day moving average of $190.31 and a two-hundred day moving average of $187.74. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, topping the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.38 EPS. On average, research analysts expect that Diamondback Energy, Inc. will post 19.73 earnings per share for the current year.

Diamondback Energy Dividend Announcement

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

Insider Activity

In other Diamondback Energy news, Director Charles Alvin Meloy sold 33,333 shares of Diamondback Energy stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the transaction, the director directly owned 818,197 shares of the company’s stock, valued at $162,338,466.77. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the transaction, the chief accounting officer owned 85,755 shares in the company, valued at $17,228,179.50. The trade was a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 134,167 shares of company stock valued at $25,749,309 in the last ninety days. 0.64% of the stock is currently owned by company insiders.

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.