LPL Financial LLC Has $39.83 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

LPL Financial LLC raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 198,965 shares of the oil and natural gas company’s stock after purchasing an additional 22,194 shares during the quarter. LPL Financial LLC owned approximately 0.11% of Diamondback Energy worth $39,831,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Founders Capital Management lifted its holdings in shares of Diamondback Energy by 404.0% in 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 in the last quarter. First Community Trust NA bought a new position in shares of Diamondback Energy in the 2nd quarter worth $26,000. Logan Capital Management Inc. bought a new position in shares of Diamondback Energy in the 4th quarter worth $31,000. HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the 2nd quarter worth $40,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Diamondback Energy in the 2nd quarter worth $65,000. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on FANG shares. Barclays raised their price objective on Diamondback Energy from $214.00 to $216.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. UBS Group raised their price objective on Diamondback Energy from $245.00 to $247.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. KeyCorp started coverage on Diamondback Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective on the stock. Benchmark restated a “buy” rating and set a $154.00 price objective on shares of Diamondback Energy in a research note on Tuesday, August 6th. Finally, StockNews.com cut Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $172.42 on Monday. The stock has a 50 day moving average of $194.77 and a 200 day moving average of $195.87. Diamondback Energy, Inc. has a 12 month low of $143.08 and a 12 month high of $214.50. The firm has a market cap of $30.76 billion, a PE ratio of 9.72, 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.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company’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 EPS. On average, research analysts expect 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 given a dividend of $2.34 per share. The ex-dividend date was Thursday, August 15th. This is a positive change 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 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.