EnCap Energy Capital Fund XII L.P. Takes Position in Diamondback Energy, Inc. $FANG

EnCap Energy Capital Fund XII L.P. acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, Holdings Channel reports. The fund acquired 1,126,468 shares of the oil and natural gas company’s stock, valued at approximately $169,342,000. Diamondback Energy accounts for 100.0% of EnCap Energy Capital Fund XII L.P.’s portfolio, making the stock its largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners raised its position in shares of Diamondback Energy by 2.9% during the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock valued at $821,649,000 after purchasing an additional 163,548 shares during the period. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock valued at $844,073,000 after purchasing an additional 14,625 shares during the period. Bank of New York Mellon Corp raised its position in shares of Diamondback Energy by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after purchasing an additional 532,756 shares during the period. Capital Research Global Investors raised its position in shares of Diamondback Energy by 14.1% during the 4th quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after purchasing an additional 534,073 shares during the period. Finally, Morgan Stanley raised its position in shares of Diamondback Energy by 3.2% during the 4th quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company’s stock valued at $575,605,000 after purchasing an additional 117,798 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Activity at Diamondback Energy

In related news, EVP Matt Zmigrosky sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $200.10, for a total transaction of $1,000,500.00. Following the completion of the transaction, the executive vice president directly owned 51,392 shares of the company’s stock, valued at approximately $10,283,539.20. This trade represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles Alvin Meloy sold 83,334 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were 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 of the company’s stock, valued at $159,338,293.60. The trade was a 8.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 121,548 shares of company stock valued at $23,146,460. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on FANG. Barclays raised their price objective on shares of Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Benchmark downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Raymond James Financial restated a “strong-buy” rating and set a $249.00 price objective on shares of Diamondback Energy in a research report on Wednesday, June 10th. UBS Group raised their price objective on shares of Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Finally, Mizuho raised their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $223.63.

Diamondback Energy Stock Performance

FANG opened at $185.48 on Thursday. The stock has a market capitalization of $52.18 billion, a price-to-earnings ratio of 215.68 and a beta of 0.42. The company has a fifty day moving average of $195.33 and a 200 day moving average of $176.39. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.74 by $0.49. The company had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. Diamondback Energy’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $4.54 earnings per share. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 19.92 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a yield of 2.4%. Diamondback Energy’s dividend payout ratio is 511.63%.

Diamondback Energy Company 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.