Alpha DNA Investment Management LLC Boosts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Alpha DNA Investment Management LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 27.0% in the second quarter, Holdings Channel.com reports. The fund owned 2,869 shares of the oil and natural gas company’s stock after purchasing an additional 610 shares during the period. Alpha DNA Investment Management LLC’s holdings in Diamondback Energy were worth $574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FANG. Quent Capital LLC lifted its stake in shares of Diamondback Energy by 7.2% during the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after buying an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC raised its holdings in 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 valued at $27,000 after acquiring an additional 55 shares during the period. Sugarloaf Wealth Management LLC lifted its position in shares of 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 valued at $3,999,000 after acquiring an additional 56 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Diamondback Energy by 16.1% in the second 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 boosted its stake in shares of Diamondback Energy by 1.6% in the second 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. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $185.43 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a market cap of $33.08 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89. The firm has a 50-day moving average of $191.30 and a two-hundred day moving average of $195.81. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The firm 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%. Diamondback Energy’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.68 earnings per share. On average, research analysts forecast that Diamondback Energy, Inc. will post 18.97 earnings per share for the current year.

Diamondback Energy Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler decreased their target price on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. UBS Group reduced their price objective on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Bank of America upped their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Morgan Stanley lifted their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Scotiabank decreased their price target on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has a consensus 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.