Citizens Financial Group Inc. RI Boosts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Citizens Financial Group Inc. RI lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 30.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,730 shares of the oil and natural gas company’s stock after purchasing an additional 632 shares during the period. Citizens Financial Group Inc. RI’s holdings in Diamondback Energy were worth $547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Founders Capital Management lifted its position in shares of Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after buying an additional 101 shares during the last quarter. First Community Trust NA purchased a new stake in Diamondback Energy in the second quarter valued at about $26,000. Logan Capital Management Inc. acquired a new stake in Diamondback Energy in the fourth quarter worth about $31,000. HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the second quarter worth about $40,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Diamondback Energy during the fourth quarter valued at about $54,000. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Down 0.9 %

FANG stock opened at $178.12 on Thursday. Diamondback Energy, Inc. has a 52-week low of $143.08 and a 52-week high of $214.50. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The firm has a market cap of $31.77 billion, a P/E ratio of 10.04, a PEG ratio of 1.06 and a beta of 1.89. The company’s 50-day simple moving average is $193.26 and its 200-day simple moving average is $195.65.

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, beating 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%. Diamondback Energy’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period last year, the company earned $3.68 earnings per share. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

Analysts Set New Price Targets

Several research firms have weighed in on FANG. Wells Fargo & Company dropped their target price on shares of Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Wolfe Research started coverage on Diamondback Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank lowered their price target on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Susquehanna dropped their price target on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, KeyCorp started coverage on Diamondback Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $225.00 price objective for the company. One analyst has rated the stock with a sell rating, seven 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 presently has a consensus rating of “Moderate Buy” and an average target price of $209.71.

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.