Syon Capital LLC Grows Stake in Diamondback Energy, Inc. $FANG

Syon Capital LLC raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 131.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,228 shares of the oil and natural gas company’s stock after buying an additional 2,971 shares during the quarter. Syon Capital LLC’s holdings in Diamondback Energy were worth $919,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC bought a new position 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 approximately $28,000. JPL Wealth Management LLC purchased a new position in shares of Diamondback Energy in the third quarter worth $26,000. Wellington Shields & Co. LLC increased its position in shares of Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after acquiring an additional 135 shares during the period. Finally, Global Assets Advisory LLC purchased a new position in Diamondback Energy during the 1st quarter valued at about $40,000. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the transaction, the director owned 13,437 shares in the company, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Meloy sold 33,333 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the completion of the sale, the director owned 818,197 shares in the company, valued at approximately $162,338,466.77. The trade was a 3.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 117,167 shares of company stock worth $22,305,309. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $199.22 on Monday. The business has a 50-day simple moving average of $195.00 and a two-hundred day simple moving average of $191.86. The stock has a market cap of $55.79 billion, a price-to-earnings ratio of 38.83 and a beta of 0.43. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $216.90. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.38 earnings per share. On average, analysts expect that Diamondback Energy, Inc. will post 20.14 EPS for the current year.

Diamondback Energy Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Seaport Research Partners assumed coverage on shares of Diamondback Energy in a research report on Thursday. They set a “neutral” rating on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $248.00 price objective on shares of Diamondback Energy in a research report on Friday, July 31st. Zacks Research lowered shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Wolfe Research reissued an “outperform” rating and issued a $206.00 target price on shares of Diamondback Energy in a report on Tuesday, August 4th. Finally, Roth Capital set a $212.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a report on Monday, June 22nd. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $222.21.

About Diamondback Energy

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.