Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Financial Advocates Investment Management

Financial Advocates Investment Management increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.7% in the second quarter, Holdings Channel reports. The firm owned 1,852 shares of the oil and natural gas company’s stock after buying an additional 208 shares during the period. Financial Advocates Investment Management’s holdings in Diamondback Energy were worth $371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Diamondback Energy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after buying an additional 176,208 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Diamondback Energy by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares during the period. Bank of New York Mellon Corp raised its position in Diamondback Energy by 16.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after purchasing an additional 415,902 shares in the last quarter. Boston Partners boosted its stake in shares of Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after buying an additional 1,916,900 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Diamondback Energy by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,213,631 shares of the oil and natural gas company’s stock valued at $343,296,000 after acquiring an additional 188,590 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. KeyCorp began coverage on shares of Diamondback Energy in a research report on Thursday, June 27th. They issued an “overweight” rating and a $225.00 price objective on the stock. Wolfe Research assumed coverage on Diamondback Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho boosted their price objective on Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a research note on Monday, May 13th. StockNews.com lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Finally, Barclays raised their price objective on shares of Diamondback Energy from $214.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $211.85.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $196.79 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $199.11 and its 200 day simple moving average is $195.19. Diamondback Energy, Inc. has a 52 week low of $143.08 and a 52 week high of $214.50. The firm has a market capitalization of $35.10 billion, a PE ratio of 11.09, a P/E/G ratio of 1.06 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the firm posted $3.68 EPS. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, equities research analysts predict that Diamondback Energy, Inc. will post 18.63 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

About Diamondback Energy

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.