E Fund Management Co. Ltd. Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

E Fund Management Co. Ltd. grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,140 shares of the oil and natural gas company’s stock after purchasing an additional 134 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Diamondback Energy were worth $428,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FANG. Quent Capital LLC boosted its stake in Diamondback Energy by 7.2% in the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after buying an additional 54 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its stake in 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 worth $3,999,000 after buying an additional 56 shares in the last quarter. Versant Capital Management Inc boosted its stake in 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 worth $82,000 after buying an additional 57 shares in the last quarter. Confluence Investment Management LLC boosted its stake in 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 buying an additional 58 shares in the last quarter. Finally, Center For Asset Management LLC boosted its stake in Diamondback Energy by 3.3% in the second quarter. Center For Asset Management LLC now owns 1,859 shares of the oil and natural gas company’s stock worth $372,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on FANG shares. Morgan Stanley upped their target price on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday. Wolfe Research began coverage on Diamondback Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Bank of America boosted their price objective on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. KeyCorp began coverage on Diamondback Energy in a research report on Thursday, June 27th. They issued an “overweight” rating and a $225.00 price objective for the company. Finally, Susquehanna lowered 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. 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, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $209.71.

Diamondback Energy Price Performance

FANG opened at $178.12 on Thursday. The stock has a fifty day simple moving average of $193.26 and a two-hundred day simple moving average of $195.65. 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 company has a market cap of $31.77 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-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 EPS for the quarter, topping 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 firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the firm posted $3.68 earnings per share. The company’s quarterly revenue was up 29.4% on a year-over-year basis. Research analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

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.