Westerkirk Capital Inc. Invests $1.77 Million in Diamondback Energy, Inc. $FANG

Westerkirk Capital Inc. acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,900 shares of the oil and natural gas company’s stock, valued at approximately $1,772,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Diamondback Energy by 1.7% during the second quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock worth $3,204,894,000 after purchasing an additional 388,512 shares during the period. Boston Partners lifted its stake in shares of Diamondback Energy by 2.8% during the 2nd quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock valued at $766,914,000 after buying an additional 151,150 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Diamondback Energy by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock worth $746,526,000 after buying an additional 142,649 shares during the period. Bank of New York Mellon Corp boosted its holdings in Diamondback Energy by 9.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after buying an additional 384,971 shares during the period. Finally, Wellington Management Group LLP grew its stake 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 valued at $311,792,000 after buying an additional 418,431 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FANG has been the topic of several recent research reports. Melius Research assumed coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 target price on the stock. Melius began coverage on Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective on the stock. Barclays dropped their price objective on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Roth Capital set a $162.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $186.95.

Diamondback Energy Stock Up 2.3%

FANG stock opened at $156.16 on Tuesday. The company’s 50 day moving average is $144.88 and its 200 day moving average is $143.02. The stock has a market cap of $44.72 billion, a price-to-earnings ratio of 10.85 and a beta of 0.63. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $180.91.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same period in the previous year, the business posted $3.19 earnings per share. Diamondback Energy’s revenue for the quarter was up 48.4% on a year-over-year basis. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, November 13th. Diamondback Energy’s payout ratio is currently 27.80%.

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.