43,604 Shares in Diamondback Energy, Inc. $FANG Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,604 shares of the oil and natural gas company’s stock, valued at approximately $7,665,000.

Other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new position in Diamondback Energy in the first quarter worth about $26,000. Meeder Asset Management Inc. purchased a new stake in shares of Diamondback Energy during the 2nd quarter valued at about $28,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at about $26,000. JPL Wealth Management LLC bought a new position in shares of Diamondback Energy in the 3rd quarter worth approximately $26,000. Finally, Wellington Shields & Co. LLC lifted its stake in shares of Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after purchasing an additional 135 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Diamondback Energy from $220.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Roth Capital set a $212.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, June 22nd. Raymond James Financial reiterated a “strong-buy” rating and set a $248.00 price target on shares of Diamondback Energy in a research note on Friday, July 31st. Susquehanna upped their price objective on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $216.00 target price on shares of Diamondback Energy in a research report on Wednesday, August 19th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $222.21.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $205.60 on Tuesday. The stock has a market cap of $57.57 billion, a PE ratio of 40.08 and a beta of 0.43. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $216.90. The firm has a fifty day moving average price of $192.10 and a 200-day moving average price of $189.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Diamondback Energy’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.38 EPS. Equities analysts anticipate that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. Diamondback Energy’s dividend payout ratio (DPR) is currently 85.77%.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 500 shares of the company’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 completion of the transaction, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated 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 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 SEC filing for this sale provides additional information. Insiders have sold 129,167 shares of company stock valued at $24,714,309 over the last three months. Insiders own 0.64% of the company’s stock.

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.