Diamondback Energy, Inc. (NASDAQ:FANG) Stock Position Lifted by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,122 shares of the oil and natural gas company’s stock after purchasing an additional 141 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Diamondback Energy were worth $625,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Founders Capital Management grew its position 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 buying an additional 101 shares during the last quarter. First Community Trust NA acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth approximately $26,000. Logan Capital Management Inc. bought a new stake in shares of Diamondback Energy in the 4th quarter worth approximately $31,000. HHM Wealth Advisors LLC acquired a new position in Diamondback Energy during the 2nd quarter valued at approximately $40,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Diamondback Energy during the 4th quarter worth $54,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $174.81 on Tuesday. Diamondback Energy, Inc. has a one year low of $143.08 and a one year 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. The business has a fifty day simple moving average of $194.20 and a 200 day simple moving average of $195.81. The firm has a market capitalization of $31.18 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.06 and a beta of 1.89.

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 for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the business earned $3.68 EPS. The firm’s revenue was up 29.4% on a year-over-year basis. Sell-side analysts expect that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a yield of 1.9%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s payout ratio is currently 20.29%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Scotiabank cut their price objective on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 price objective on shares of Diamondback Energy in a report on Tuesday, August 13th. Susquehanna cut their target price 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. Barclays increased their price target on Diamondback Energy from $214.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley lifted their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.86.

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.