Xponance Inc. Has $4.52 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Xponance Inc. lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.4% during the second quarter, Holdings Channel.com reports. The firm owned 22,571 shares of the oil and natural gas company’s stock after selling 330 shares during the quarter. Xponance Inc.’s holdings in Diamondback Energy were worth $4,518,000 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 increased 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 valued at $1,706,076,000 after purchasing an additional 2,381,488 shares during the period. Boston Partners increased 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 buying an additional 1,916,900 shares during the period. Homestead Advisers Corp bought a new position in Diamondback Energy during the first quarter worth $87,940,000. Bank of New York Mellon Corp lifted 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 buying an additional 415,902 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Diamondback Energy by 280.8% during the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock valued at $109,144,000 after acquiring an additional 402,026 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $180.53 on Thursday. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The stock has a market cap of $32.20 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89. The stock’s fifty day simple moving average is $191.30 and its two-hundred day simple moving average is $195.81. Diamondback Energy, Inc. has a 1-year low of $143.08 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.68 earnings per share. As a group, analysts forecast that Diamondback Energy, Inc. will post 18.97 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FANG shares. Jefferies Financial Group assumed coverage on Diamondback Energy in a research report on Monday, September 16th. They issued a “hold” rating and a $185.00 price objective for the company. StockNews.com downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Barclays increased their price target on Diamondback Energy from $214.00 to $216.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Bank of America lifted their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Benchmark reissued a “buy” rating and set a $154.00 target price on shares of Diamondback Energy in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $209.71.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.

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.