Benjamin Edwards Inc. Raises Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Benjamin Edwards Inc. lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3,383.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,090 shares of the oil and natural gas company’s stock after acquiring an additional 2,030 shares during the quarter. Benjamin Edwards Inc.’s holdings in Diamondback Energy were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Founders Capital Management increased its holdings in 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 worth $25,000 after purchasing an additional 101 shares during the period. First Community Trust NA acquired a new position in shares of Diamondback Energy during the second quarter worth about $26,000. Carolinas Wealth Consulting LLC increased its stake in shares of Diamondback Energy by 67.1% during 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 during the period. Logan Capital Management Inc. acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $31,000. Finally, HHM Wealth Advisors LLC purchased a new position in Diamondback Energy in the second quarter worth approximately $40,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 0.3 %

Diamondback Energy stock opened at $181.00 on Friday. The stock has a market capitalization of $32.28 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.06 and a beta of 1.89. 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 two-hundred day moving average of $195.57. Diamondback Energy, Inc. has a twelve month low of $143.08 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm posted $3.68 EPS. The firm’s quarterly revenue was up 29.4% on a year-over-year basis. As a group, research analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FANG shares. Piper Sandler reduced their price objective on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Susquehanna cut their price target 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. UBS Group decreased their price target on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a report on Wednesday. Morgan Stanley increased their price objective on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, KeyCorp initiated coverage on Diamondback Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $225.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.