American Century Companies Inc. Grows Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

American Century Companies Inc. boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 195.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 531,162 shares of the oil and natural gas company’s stock after buying an additional 351,329 shares during the period. American Century Companies Inc. owned 0.30% of Diamondback Energy worth $106,333,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Founders Capital Management boosted its holdings in shares of 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 last quarter. First Community Trust NA bought a new position in Diamondback Energy during the second quarter valued at $26,000. Logan Capital Management Inc. purchased a new stake in shares of Diamondback Energy in the fourth quarter worth approximately $31,000. HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the second quarter valued at $40,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Diamondback Energy in the 2nd quarter valued at about $65,000. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Up 0.9 %

Diamondback Energy stock opened at $172.42 on Friday. Diamondback Energy, Inc. has a twelve month low of $143.08 and a twelve month high of $214.50. The stock’s fifty day simple moving average is $194.77 and its 200-day simple moving average is $195.63. The firm has a market capitalization of $30.76 billion, a P/E ratio of 9.72, a P/E/G ratio of 1.06 and a beta of 1.89. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65.

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. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.68 earnings per share. As a group, equities analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a dividend of $2.34 per share. This represents a dividend yield of 1.9%. 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. Diamondback Energy’s dividend payout ratio is 20.29%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Sanford C. Bernstein lowered their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $220.00 price objective on shares of Diamondback Energy in a research note on Tuesday, August 13th. Piper Sandler reduced their price target on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Truist Financial raised their price target on shares of Diamondback Energy from $249.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, UBS Group boosted their price objective on shares of Diamondback Energy from $245.00 to $247.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.