Palo Duro Investment Partners LP Acquires New Position in Diamondback Energy, Inc. $FANG

Palo Duro Investment Partners LP bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,997 shares of the oil and natural gas company’s stock, valued at approximately $1,757,000. Diamondback Energy makes up about 0.3% of Palo Duro Investment Partners LP’s holdings, making the stock its 15th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Laurel Wealth Advisors LLC bought a new stake in shares of Diamondback Energy in the 4th quarter worth approximately $26,000. Cedar Mountain Advisors LLC bought a new position in shares of Diamondback Energy during the 1st quarter valued at $26,000. JPL Wealth Management LLC purchased a new position in Diamondback Energy in the 3rd quarter worth $26,000. Wellington Shields & Co. LLC raised its position in 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. Finally, Meeder Asset Management Inc. bought a new stake in Diamondback Energy in the second quarter worth $28,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

FANG stock opened at $199.84 on Thursday. The firm’s 50-day moving average price is $192.62 and its two-hundred day moving average price is $190.20. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $216.90. The stock has a market capitalization of $55.96 billion, a price-to-earnings ratio of 38.96 and a beta of 0.43. 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 (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating the consensus estimate of $6.08 by $0.40. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.38 earnings per share. As a group, equities analysts predict that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a $1.10 dividend. The ex-dividend date was Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.2%. Diamondback Energy’s dividend payout ratio (DPR) is 85.77%.

Wall Street Analyst Weigh In

Several analysts have issued reports on FANG shares. Citigroup cut their price target on shares of Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Weiss Ratings raised Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Raymond James Financial reissued a “strong-buy” rating and issued a $248.00 target price on shares of Diamondback Energy in a research note on Friday, July 31st. UBS Group reduced their price target on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Finally, Susquehanna lifted their price target on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $222.21.

Insiders Place Their Bets

In other 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 sale, the director owned 818,197 shares of the company’s stock, valued at approximately $162,338,466.77. The trade was a 3.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction of $1,002,700.00. Following the completion of the transaction, the executive vice president directly owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. The trade was a 9.73% 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 129,167 shares of company stock valued at $24,714,309 in the last 90 days. 0.64% of the stock is owned by corporate insiders.

About Diamondback Energy

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.