IFM Investors Pty Ltd Boosts Stake in Diamondback Energy, Inc. $FANG

IFM Investors Pty Ltd increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,901 shares of the oil and natural gas company’s stock after buying an additional 655 shares during the period. IFM Investors Pty Ltd’s holdings in Diamondback Energy were worth $6,859,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BankPlus Trust Department purchased a new position in Diamondback Energy in the first quarter worth about $27,000. Pinnacle Bancorp Inc. raised its position in Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 88 shares during the period. SouthState Corp raised its position in Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 167 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in Diamondback Energy during the fourth quarter valued at approximately $33,000. Finally, WASHINGTON TRUST Co raised its position in Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock valued at $32,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the 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 owned 102,145 shares of the company’s stock, valued at $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FANG shares. KeyCorp decreased their price objective on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 3rd. Melius began coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. UBS Group increased their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Raymond James Financial reduced their price objective on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $193.17.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $139.64 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $200.47. The firm has a market capitalization of $40.42 billion, a P/E ratio of 9.92 and a beta of 1.14. The company’s 50-day moving average is $142.80 and its 200 day moving average is $142.44.

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

Diamondback Energy Announces Dividend

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

Diamondback Energy Company Profile

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.