E Fund Management Co. Ltd. Grows Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

E Fund Management Co. Ltd. lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,140 shares of the oil and natural gas company’s stock after acquiring an additional 134 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Diamondback Energy were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Founders Capital Management boosted 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 shares of Diamondback Energy during the second quarter valued at $26,000. Logan Capital Management Inc. purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at $31,000. HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the second quarter valued at $40,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at $54,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 0.9 %

Shares of FANG opened at $178.12 on Thursday. The business’s 50 day moving average is $193.26 and its 200 day moving average is $195.65. The company has a market capitalization of $31.77 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50. 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 earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (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 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 firm’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the company earned $3.68 EPS. Research analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $2.34 dividend. This is an increase from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. This represents a yield of 1.9%. Diamondback Energy’s payout ratio is presently 20.29%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Diamondback Energy in a research report on Tuesday. Morgan Stanley raised their target price on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday. Piper Sandler dropped their target price on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. UBS Group dropped their target price on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Barclays raised their target price on 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.71.

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.