Second Line Capital LLC Has $3.76 Million Stock Holdings in Diamondback Energy, Inc. $FANG

Second Line Capital LLC trimmed its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 11.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 21,397 shares of the oil and natural gas company’s stock after selling 2,752 shares during the quarter. Diamondback Energy comprises about 0.7% of Second Line Capital LLC’s portfolio, making the stock its 29th biggest holding. Second Line Capital LLC’s holdings in Diamondback Energy were worth $3,761,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of FANG. Hsbc Holdings PLC increased its stake in Diamondback Energy by 16.3% in the fourth quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company’s stock valued at $50,890,000 after acquiring an additional 47,450 shares during the last quarter. Guinness Asset Management LTD raised its position in Diamondback Energy by 12.0% during the fourth quarter. Guinness Asset Management LTD now owns 54,132 shares of the oil and natural gas company’s stock valued at $8,042,000 after purchasing an additional 5,816 shares in the last quarter. National Pension Service raised its position in Diamondback Energy by 7.7% during the fourth quarter. National Pension Service now owns 381,710 shares of the oil and natural gas company’s stock valued at $57,382,000 after purchasing an additional 27,229 shares in the last quarter. Peterson Wealth Services lifted its stake in Diamondback Energy by 174.2% during the fourth quarter. Peterson Wealth Services now owns 23,973 shares of the oil and natural gas company’s stock worth $3,604,000 after purchasing an additional 15,229 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Diamondback Energy by 11.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 67,977 shares of the oil and natural gas company’s stock worth $10,219,000 after purchasing an additional 6,992 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Charles Meloy sold 83,334 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the completion of the transaction, the director owned 851,530 shares of the company’s stock, valued at $159,338,293.60. This represents a 8.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.64% of the stock is currently owned by insiders.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $199.22 on Tuesday. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $216.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. The firm has a market capitalization of $55.79 billion, a P/E ratio of 38.83 and a beta of 0.43. The company’s 50 day moving average price is $195.37 and its two-hundred day moving average price is $192.07.

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

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were given a dividend of $1.10 per share. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy’s payout ratio is currently 85.77%.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research analyst reports. Wall Street Zen downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research cut Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Barclays dropped their price objective on Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Weiss Ratings raised Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Finally, Mizuho lifted their target price on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $222.21.

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.