Second Line Capital LLC Sells 2,752 Shares of Diamondback Energy, Inc. $FANG

Second Line Capital LLC lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 11.4% during the second quarter, Holdings Channel.com reports. The firm owned 21,397 shares of the oil and natural gas company’s stock after selling 2,752 shares during the quarter. Diamondback Energy makes up 0.7% of Second Line Capital LLC’s investment portfolio, making the stock its 29th biggest holding. Second Line Capital LLC’s holdings in Diamondback Energy were worth $3,761,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FANG. Cedar Mountain Advisors LLC acquired a new stake in Diamondback Energy in the first quarter valued at $26,000. Meeder Asset Management Inc. bought a new position in Diamondback Energy during the 2nd quarter worth $28,000. JPL Wealth Management LLC acquired a new position in Diamondback Energy during the 3rd quarter worth about $26,000. Wellington Shields & Co. LLC lifted its holdings in Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 135 shares during the period. Finally, Global Assets Advisory LLC bought a new stake in shares of Diamondback Energy in the 1st quarter valued at about $40,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $199.22 on Tuesday. The business has a 50-day moving average price of $195.37 and a two-hundred day moving average price of $192.07. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year 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 company has a market cap of $55.79 billion, a P/E ratio of 38.83 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data 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. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The company had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the business earned $2.38 EPS. The firm’s revenue was up 51.2% compared to the same quarter last year. As a group, analysts anticipate that Diamondback Energy, Inc. will post 20.14 EPS for the current year.

Diamondback Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FANG shares. Truist Financial increased their price target on Diamondback Energy from $220.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings raised Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Seaport Research Partners started coverage on Diamondback Energy in a report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Roth Capital set a $212.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, Zacks Research lowered shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus price target of $222.21.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Charles Meloy sold 83,334 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the transaction, the director directly owned 851,530 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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.