Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Goehring & Rozencwajg Associates LLC

Goehring & Rozencwajg Associates LLC boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 17.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,701 shares of the oil and natural gas company’s stock after acquiring an additional 9,800 shares during the period. Diamondback Energy accounts for about 2.7% of Goehring & Rozencwajg Associates LLC’s holdings, making the stock its 12th biggest position. Goehring & Rozencwajg Associates LLC’s holdings in Diamondback Energy were worth $13,353,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC boosted 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 worth $162,000 after acquiring an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its stake in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its stake in shares of Diamondback Energy by 0.3% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after acquiring an additional 56 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Diamondback Energy by 16.1% during the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock worth $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% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FANG shares. Benchmark reaffirmed a “buy” rating and issued a $154.00 target price on shares of Diamondback Energy in a research note on Tuesday, August 6th. Barclays upped their target price 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. Susquehanna reduced their target price 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. Truist Financial increased their price target on Diamondback Energy from $249.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, UBS Group reduced their price target on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.71.

Diamondback Energy Stock Down 0.9 %

Shares of NASDAQ FANG opened at $178.12 on Thursday. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50. The company has a market cap of $31.77 billion, a P/E ratio of 10.04, a P/E/G 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 fifty day moving average price of $193.26 and a 200 day moving average price of $195.65.

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 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 firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the firm earned $3.68 EPS. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. Research analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $2.34 dividend. 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 was Thursday, August 15th. Diamondback Energy’s dividend payout ratio is currently 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.