Global Retirement Partners LLC Takes Position in Diamondback Energy, Inc. $FANG

Global Retirement Partners LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, Holdings Channel reports. The fund purchased 8,381 shares of the oil and natural gas company’s stock, valued at approximately $1,473,000.

Other large investors have also modified their holdings of the company. Boston Partners grew its holdings in Diamondback Energy by 2.9% in the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after buying an additional 163,548 shares in the last quarter. Geode Capital Management LLC boosted its position in Diamondback Energy by 0.3% during the 4th 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 period. Bank of New York Mellon Corp boosted its position in Diamondback Energy by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock worth $775,607,000 after acquiring an additional 532,756 shares during the period. Capital Research Global Investors grew its stake in shares of Diamondback Energy by 14.1% in the fourth quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock worth $651,363,000 after purchasing an additional 534,073 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Diamondback Energy by 3.2% during the fourth 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 period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FANG shares. Wolfe Research restated an “outperform” rating and set a $206.00 price objective on shares of Diamondback Energy in a research note on Tuesday, August 4th. Morgan Stanley lowered their target price on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $262.00 to $263.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Barclays lowered their price objective on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Roth Capital set a $212.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, June 22nd. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $221.75.

Insider Buying and Selling

In related news, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction 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 transaction, the executive vice president directly owned 46,392 shares in the company, valued at $9,303,451.68. The trade was a 9.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles Alvin Meloy sold 83,334 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the sale, the director directly owned 851,530 shares in the company, valued at $159,338,293.60. This trade represents a 8.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 129,167 shares of company stock worth $24,714,309 over the last three months. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $206.29 on Tuesday. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $57.77 billion, a price-to-earnings ratio of 40.21 and a beta of 0.43. The firm has a 50-day moving average of $190.47 and a two-hundred day moving average of $188.07.

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

Diamondback Energy Announces Dividend

The firm 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 $1.10 dividend. The ex-dividend date is Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.1%. Diamondback Energy’s payout ratio is 85.77%.

Diamondback Energy Company 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.