Vise Technologies Inc. Makes New Investment in Diamondback Energy, Inc. $FANG

Vise Technologies Inc. bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the 2nd quarter, Holdings Channel reports. The firm bought 9,068 shares of the oil and natural gas company’s stock, valued at approximately $1,594,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth approximately $3,303,362,000. Boston Partners lifted its holdings in Diamondback Energy by 2.9% in the third quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock valued at $821,649,000 after acquiring an additional 163,548 shares during the last quarter. Geode Capital Management LLC grew its position in Diamondback Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after acquiring an additional 14,625 shares during the period. Bank of New York Mellon Corp grew its position in Diamondback Energy by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock worth $775,607,000 after acquiring an additional 532,756 shares during the period. Finally, Capital Research Global Investors increased its stake in Diamondback Energy by 14.1% during the fourth quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock worth $651,363,000 after acquiring an additional 534,073 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FANG. Truist Financial upped 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. Wells Fargo & Company boosted their price objective on shares of Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Susquehanna upped their target price on shares of Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Mizuho increased their target price on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Sanford C. Bernstein lifted their price target on shares of Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $222.21.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $210.72 on Friday. The stock’s 50-day moving average is $191.79 and its two-hundred day moving average is $189.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $216.90. The company has a market cap of $59.01 billion, a price-to-earnings ratio of 41.08 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 the consensus estimate of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The business had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the business posted $2.38 EPS. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. Analysts forecast that Diamondback Energy, Inc. will post 19.78 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a $1.10 dividend. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. Diamondback Energy’s payout ratio is currently 85.77%.

Insider Activity

In other Diamondback Energy news, Director Charles Alvin Meloy sold 83,334 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 851,530 shares in the company, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the sale, the executive vice president directly owned 46,392 shares in the company, valued at approximately $9,303,451.68. This represents a 9.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 129,167 shares of company stock worth $24,714,309 over the last three months. Insiders own 0.64% of the company’s stock.

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.