Diamondback Energy, Inc. $FANG Shares Bought by Cullen Investment Group LTD.

Cullen Investment Group LTD. raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 20.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,970 shares of the oil and natural gas company’s stock after buying an additional 2,229 shares during the period. Cullen Investment Group LTD.’s holdings in Diamondback Energy were worth $1,782,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Boston Partners boosted its holdings in Diamondback Energy by 4.8% in the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock worth $861,961,000 after buying an additional 249,098 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Diamondback Energy by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company’s stock worth $680,649,000 after buying an additional 94,177 shares during the last quarter. Demars Financial Group LLC boosted its holdings in Diamondback Energy by 5.3% in the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company’s stock worth $655,953,000 after buying an additional 208,200 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Diamondback Energy by 4.1% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company’s stock worth $468,846,000 after buying an additional 114,930 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Diamondback Energy by 27.3% in the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock worth $311,792,000 after buying an additional 418,431 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on FANG. KeyCorp lowered their price objective on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a report on Wednesday, September 3rd. Raymond James Financial lowered their price objective on Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a report on Wednesday, August 20th. Morgan Stanley boosted their target price on Diamondback Energy from $184.00 to $186.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. UBS Group boosted their target price on Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Melius assumed coverage on Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Diamondback Energy has a consensus rating of “Buy” and an average target price of $193.17.

Diamondback Energy Trading Down 1.1%

Shares of Diamondback Energy stock opened at $136.88 on Friday. The stock has a market cap of $39.63 billion, a P/E ratio of 9.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The stock’s 50 day simple moving average is $142.68 and its 200-day simple moving average is $142.22. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $200.47.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the company posted $4.52 earnings per share. The company’s revenue was up 48.1% on a year-over-year basis. Analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a $1.00 dividend. The ex-dividend date was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. Diamondback Energy’s dividend payout ratio is currently 28.43%.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.