Brighton Jones LLC Raises Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Brighton Jones LLC raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,821 shares of the oil and natural gas company’s stock after acquiring an additional 60 shares during the quarter. Brighton Jones LLC’s holdings in Diamondback Energy were worth $1,566,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FANG. Franklin Resources Inc. boosted its stake in shares of Diamondback Energy by 14.1% in the 4th quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock worth $7,852,000 after buying an additional 6,240 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Diamondback Energy by 178.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after buying an additional 19,552 shares during the last quarter. TFO Wealth Partners LLC boosted its stake in shares of Diamondback Energy by 78,990.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,909 shares of the oil and natural gas company’s stock worth $1,227,000 after buying an additional 7,899 shares during the last quarter. Integrated Advisors Network LLC boosted its stake in shares of Diamondback Energy by 92.8% in the 4th quarter. Integrated Advisors Network LLC now owns 13,031 shares of the oil and natural gas company’s stock worth $2,021,000 after buying an additional 6,272 shares during the last quarter. Finally, Kapitalo Investimentos Ltda boosted its stake in shares of Diamondback Energy by 1,842.5% in the 4th quarter. Kapitalo Investimentos Ltda now owns 4,390 shares of the oil and natural gas company’s stock worth $681,000 after buying an additional 4,164 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Trading Down 0.3 %

FANG opened at $181.00 on Friday. The firm has a market cap of $32.28 billion, a P/E ratio of 10.20, a P/E/G 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. The stock has a 50-day moving average of $192.28 and a 200 day moving average of $195.57.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.51 by $0.01. The company had revenue of $2.48 billion during 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%. The firm’s revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the business posted $3.68 earnings per share. As a group, research analysts forecast that Diamondback Energy, Inc. will post 19.08 EPS for the current 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 paid a dividend of $2.34 per share. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FANG shares. StockNews.com downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Piper Sandler lowered 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. Jefferies Financial Group started coverage on Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 target price on the stock. KeyCorp started coverage on Diamondback Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $225.00 target price on the stock. Finally, Bank of America lifted their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.