Diamondback Energy, Inc. $FANG Stock Bought by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 12.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,633 shares of the oil and natural gas company’s stock after buying an additional 3,505 shares during the period. Eagle Rock Investment Company LLC’s holdings in Diamondback Energy were worth $5,631,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FANG. Cedar Mountain Advisors LLC bought a new position in Diamondback Energy during the first quarter worth about $26,000. Meeder Asset Management Inc. acquired a new position in Diamondback Energy in the second quarter valued at about $28,000. Burkett Financial Services LLC bought a new stake in shares of Diamondback Energy in the third quarter worth about $32,000. Global Assets Advisory LLC bought a new stake in shares of Diamondback Energy in the first quarter worth about $40,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of Diamondback Energy in the second quarter worth about $41,000. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FANG shares. Wolfe Research reaffirmed an “outperform” rating and set a $206.00 price target on shares of Diamondback Energy in a research report on Tuesday, August 4th. JPMorgan Chase & Co. boosted their price objective on Diamondback Energy from $211.00 to $233.00 in a research report on Wednesday, August 5th. Stephens reissued an “outperform” rating on shares of Diamondback Energy in a research note on Tuesday, October 13th. BMO Capital Markets increased their target price on Diamondback Energy from $215.00 to $224.00 and gave the stock an “outperform” rating in a research note on Friday, October 2nd. Finally, Wall Street Zen upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.71.

Insider Transactions at Diamondback Energy

In related news, Director Travis D. Stice sold 75,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $204.31, for a total value of $15,323,250.00. Following the sale, the director owned 49,727 shares of the company’s stock, valued at approximately $10,159,723.37. This trade represents a 60.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Meloy sold 33,333 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $183.74, for a total value of $6,124,605.42. Following the completion of the sale, the director owned 759,864 shares in the company, valued at $139,617,411.36. The trade was a 4.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 141,666 shares of company stock valued at $28,061,456. 0.64% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $200.93 on Thursday. The company has a fifty day moving average price of $197.33 and a 200 day moving average price of $194.36. The firm has a market cap of $56.27 billion, a PE ratio of 39.17 and a beta of 0.55. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. Diamondback Energy, Inc. has a 1-year low of $137.03 and a 1-year high of $216.90.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.08 by $0.40. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the business posted $2.38 EPS. Research analysts predict that Diamondback Energy, Inc. will post 21.04 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

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

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. The company’s operations are concentrated in the Permian Basin of West Texas and southeastern New Mexico, particularly the Midland and Delaware Basins.

Diamondback produces crude oil, natural gas and natural gas liquids from horizontal wells and related infrastructure. Its activities include drilling and completing wells, operating gathering and processing assets, and managing midstream services that support production.