Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 25.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,031 shares of the oil and natural gas company’s stock after selling 12,242 shares during the quarter. Amalgamated Bank’s holdings in Diamondback Energy were worth $7,213,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Diamondback Energy by 39.4% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,470 shares of the oil and natural gas company’s stock worth $695,000 after buying an additional 980 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Diamondback Energy by 27.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 10,480 shares of the oil and natural gas company’s stock worth $2,085,000 after buying an additional 2,227 shares in the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of Diamondback Energy by 6.7% in the 2nd quarter. E Fund Management Co. Ltd. now owns 2,140 shares of the oil and natural gas company’s stock valued at $428,000 after purchasing an additional 134 shares in the last quarter. Abbot Financial Management Inc. raised its holdings in shares of Diamondback Energy by 6.0% in the 2nd quarter. Abbot Financial Management Inc. now owns 3,311 shares of the oil and natural gas company’s stock valued at $663,000 after purchasing an additional 187 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at $1,773,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FANG shares. Morgan Stanley raised their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday. Wolfe Research started coverage on shares of Diamondback Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial raised their price objective on shares of Diamondback Energy from $249.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Sanford C. Bernstein reduced their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $220.00 price objective on shares of Diamondback Energy in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.71.

Diamondback Energy Trading Up 2.0 %

Shares of Diamondback Energy stock opened at $181.63 on Friday. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The company has a market capitalization of $32.39 billion, a P/E ratio of 10.24, a PEG ratio of 1.06 and a beta of 1.89. The company’s fifty day moving average is $192.75 and its two-hundred day moving average is $195.55.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. Diamondback Energy’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period last year, the firm posted $3.68 EPS. Analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a None dividend, which was paid on Thursday, August 22nd. Stockholders 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. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 1.9%. Diamondback Energy’s payout ratio is presently 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.