Diamondback Energy, Inc. (NASDAQ:FANG) Stake Boosted by Profund Advisors LLC

Profund Advisors LLC grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.7% in the 2nd quarter, Holdings Channel reports. The firm owned 22,503 shares of the oil and natural gas company’s stock after acquiring an additional 586 shares during the quarter. Profund Advisors LLC’s holdings in Diamondback Energy were worth $4,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Founders Capital Management grew its holdings in shares of Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 101 shares during the last quarter. First Community Trust NA bought a new position in shares of Diamondback Energy during the second quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC boosted its position 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 position in shares of Diamondback Energy during the fourth quarter worth approximately $31,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the second quarter worth approximately $40,000. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $181.00 on Friday. Diamondback Energy, Inc. has a one year low of $143.08 and a one year high of $214.50. The stock has a fifty day moving average of $192.28 and a 200-day moving average of $195.68. The company has a market capitalization of $32.28 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm earned $3.68 EPS. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FANG shares. Susquehanna reduced their price objective on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Sanford C. Bernstein reduced their price objective on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Morgan Stanley boosted their price objective on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Scotiabank reduced their price objective on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Jefferies Financial Group began coverage on Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 price objective for the company. One 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.71.

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.