Commonwealth Equity Services LLC Buys 1,674 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Commonwealth Equity Services LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,483 shares of the oil and natural gas company’s stock after buying an additional 1,674 shares during the period. Commonwealth Equity Services LLC’s holdings in Diamondback Energy were worth $13,309,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FANG. Founders Capital Management increased its position in Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 101 shares during the period. First Community Trust NA bought a new stake in shares of Diamondback Energy in the 2nd quarter valued at $26,000. Logan Capital Management Inc. acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $31,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Diamondback Energy during the first quarter worth $49,000. Finally, First Horizon Advisors Inc. lifted its holdings in Diamondback Energy by 37.3% in the fourth quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock valued at $50,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Diamondback Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company lowered their target price on Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. UBS Group increased their price target on Diamondback Energy from $245.00 to $247.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Barclays lifted their price objective on shares of Diamondback Energy from $214.00 to $216.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $220.00 target price on shares of Diamondback Energy in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.45.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $184.28 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The company has a fifty day moving average price of $198.75 and a 200-day moving average price of $195.89. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50. The firm has a market cap of $32.87 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 1.23 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the business posted $3.68 EPS. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

Diamondback Energy Company Profile

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.