NEOS Investment Management LLC Buys 24,410 Shares of Diamondback Energy, Inc. $FANG

NEOS Investment Management LLC boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 13.4% in the second quarter, HoldingsChannel reports. The firm owned 207,228 shares of the oil and natural gas company’s stock after buying an additional 24,410 shares during the period. NEOS Investment Management LLC’s holdings in Diamondback Energy were worth $36,427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Diamondback Energy during the second quarter valued at about $3,303,362,000. Wellington Management Group LLP grew its stake in shares of Diamondback Energy by 31.3% in the 2nd quarter. Wellington Management Group LLP now owns 16,420,247 shares of the oil and natural gas company’s stock valued at $2,886,351,000 after buying an additional 3,918,943 shares during the period. Boston Partners grew its stake in shares of 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 valued at $821,649,000 after buying an additional 163,548 shares during the period. Geode Capital Management LLC grew its stake in shares of Diamondback Energy by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock valued at $844,073,000 after buying an additional 14,625 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Diamondback Energy by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after buying an additional 532,756 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wolfe Research reaffirmed an “outperform” rating and set a $206.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 4th. Morgan Stanley reissued an “equal weight” rating and issued a $216.00 price objective on shares of Diamondback Energy in a research note on Wednesday, August 19th. UBS Group decreased their price objective on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Barclays cut their target price on Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Finally, Weiss Ratings raised shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $222.21.

Diamondback Energy Trading Down 0.2%

FANG opened at $202.94 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $216.90. The firm has a market capitalization of $56.83 billion, a PE ratio of 39.56 and a beta of 0.43. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. The company’s 50-day moving average is $194.61 and its 200 day moving average is $191.65.

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 analysts’ consensus estimates of $6.08 by $0.40. The business had revenue of $5.56 billion during 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 quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.38 EPS. As a group, research analysts predict that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

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

Insider Activity at Diamondback Energy

In related news, Director Charles Meloy sold 83,334 shares of the 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 completion of the sale, the director directly owned 851,530 shares of the company’s stock, valued at approximately $159,338,293.60. This represents a 8.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director owned 13,437 shares in the company, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 117,167 shares of company stock worth $22,305,309. 0.64% of the stock is owned by 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.