Alaethes Wealth LLC Buys 80 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Alaethes Wealth LLC boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,173 shares of the oil and natural gas company’s stock after buying an additional 80 shares during the quarter. Alaethes Wealth LLC’s holdings in Diamondback Energy were worth $1,836,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FANG. Quent Capital LLC lifted its stake in Diamondback Energy by 7.2% in the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after acquiring an additional 54 shares during the period. Carolinas Wealth Consulting LLC raised its stake in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in Diamondback Energy by 0.3% in the second quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after buying an additional 56 shares during the period. Versant Capital Management Inc boosted its position in Diamondback Energy by 16.1% during the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after acquiring an additional 57 shares in the last quarter. Finally, Confluence Investment Management LLC grew its holdings in shares of Diamondback Energy by 1.6% during the 2nd quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock worth $734,000 after acquiring an additional 58 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial raised their target price on Diamondback Energy from $249.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Susquehanna reduced their target price on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Bank of America lifted their price target on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. StockNews.com cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Finally, Scotiabank lowered their target price on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.71.

Diamondback Energy Price Performance

NASDAQ FANG opened at $181.00 on Friday. The company has a 50-day moving average price of $192.28 and a 200-day moving average price of $195.57. 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 capitalization of $32.28 billion, a P/E ratio of 10.20, a PEG ratio of 1.06 and a beta of 1.89.

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. 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 the consensus estimate of $2.19 billion. During the same period last year, the firm earned $3.68 earnings per share. The company’s quarterly revenue was up 29.4% on a year-over-year basis. Equities research analysts anticipate that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

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

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.