Ballentine Partners LLC Acquires 83 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Ballentine Partners LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.6% during the second quarter, Holdings Channel.com reports. The firm owned 1,557 shares of the oil and natural gas company’s stock after acquiring an additional 83 shares during the quarter. Ballentine Partners LLC’s holdings in Diamondback Energy were worth $312,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FANG. Price T Rowe Associates Inc. MD raised its position 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 last quarter. Boston Partners raised its position in shares of Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after acquiring an additional 1,916,900 shares during the last quarter. Homestead Advisers Corp acquired a new position in shares of Diamondback Energy in the first quarter worth approximately $87,940,000. Bank of New York Mellon Corp boosted its holdings in Diamondback Energy by 16.0% in the second 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 acquiring an additional 415,902 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Diamondback Energy during the 1st quarter valued at approximately $77,510,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 1.7 %

FANG opened at $168.50 on Thursday. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The firm has a market capitalization of $30.05 billion, a PE ratio of 9.50, a P/E/G ratio of 1.13 and a beta of 1.89. 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’s 50-day moving average is $196.11 and its 200 day moving average is $195.84.

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

Diamondback Energy Increases Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on FANG. Sanford C. Bernstein reduced their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. StockNews.com downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Bank of America lifted their price objective on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Truist Financial upped their target price on Diamondback Energy from $249.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Piper Sandler lowered their target price on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $211.45.

Diamondback Energy 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.