Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 342,669 shares of the oil and natural gas company’s stock after acquiring an additional 4,749 shares during the quarter. Rhumbline Advisers owned about 0.19% of Diamondback Energy worth $68,599,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in FANG. Franklin Resources Inc. lifted its stake in shares of Diamondback Energy by 14.1% during the fourth quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock worth $7,852,000 after purchasing an additional 6,240 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Diamondback Energy by 178.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after acquiring an additional 19,552 shares in the last quarter. TFO Wealth Partners LLC boosted its holdings in Diamondback Energy by 78,990.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,909 shares of the oil and natural gas company’s stock worth $1,227,000 after acquiring an additional 7,899 shares during the period. Integrated Advisors Network LLC grew its position in Diamondback Energy by 92.8% in the fourth quarter. Integrated Advisors Network LLC now owns 13,031 shares of the oil and natural gas company’s stock valued at $2,021,000 after acquiring an additional 6,272 shares in the last quarter. Finally, Kapitalo Investimentos Ltda raised its stake in shares of Diamondback Energy by 1,842.5% during the fourth quarter. Kapitalo Investimentos Ltda now owns 4,390 shares of the oil and natural gas company’s stock valued at $681,000 after purchasing an additional 4,164 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $184.28 on Thursday. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $198.75 and its two-hundred day moving average price is $195.89. Diamondback Energy, Inc. has a 52-week low of $143.08 and a 52-week high of $214.50. The stock has a market capitalization of $32.87 billion, a P/E ratio of 10.39, a P/E/G ratio of 1.23 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the firm posted $3.68 EPS. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $2.34 dividend. This represents a dividend yield of 1.9%. The ex-dividend date was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Analyst Ratings Changes

A number of research firms recently weighed in on FANG. Susquehanna lowered their price target on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating for the company in a report on Wednesday. Scotiabank lowered their target price on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $220.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 13th. UBS Group raised their price objective on Diamondback Energy from $245.00 to $247.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Barclays upped their target price on Diamondback Energy from $214.00 to $216.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $211.45.

Diamondback Energy 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.