Rakuten Investment Management Inc. Grows Position in Diamondback Energy, Inc. $FANG

Rakuten Investment Management Inc. grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 18.2% in the second quarter, Holdings Channel.com reports. The firm owned 53,272 shares of the oil and natural gas company’s stock after buying an additional 8,193 shares during the period. Rakuten Investment Management Inc.’s holdings in Diamondback Energy were worth $9,618,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new position in Diamondback Energy in the 4th quarter valued at approximately $26,000. Cedar Mountain Advisors LLC bought a new position in shares of Diamondback Energy in the first quarter worth $26,000. JPL Wealth Management LLC bought a new position in shares of Diamondback Energy in the third quarter worth $26,000. Wellington Shields & Co. LLC grew its position in shares of Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 135 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Diamondback Energy during the 2nd quarter valued at $28,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 1.4%

Shares of NASDAQ FANG opened at $197.67 on Friday. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $216.90. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $55.35 billion, a price-to-earnings ratio of 38.53 and a beta of 0.43. The business has a 50-day moving average of $193.25 and a 200-day moving average of $190.49.

Diamondback Energy (NASDAQ:FANG) last announced 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 business had revenue of $5.56 billion for 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%. Diamondback Energy’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the firm posted $2.38 earnings per share. Sell-side analysts expect that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

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

Wall Street Analyst Weigh In

FANG has been the topic of a number of recent research reports. Jefferies Financial Group reissued a “hold” rating and set a $205.00 price objective on shares of Diamondback Energy in a report on Sunday, August 9th. Susquehanna lifted their target price on Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Raymond James Financial reiterated a “strong-buy” rating and set a $248.00 price target on shares of Diamondback Energy in a research report on Friday, July 31st. Weiss Ratings raised shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Finally, Truist Financial raised their price objective 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. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $222.21.

Insider Activity at Diamondback Energy

In related news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the sale, the chief accounting officer owned 85,755 shares in the company, valued at $17,228,179.50. The trade was a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 129,167 shares of company stock worth $24,714,309. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy 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.