Edgestream Partners L.P. Invests $1.77 Million in Diamondback Energy, Inc. (NASDAQ:FANG)

Edgestream Partners L.P. acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,855 shares of the oil and natural gas company’s stock, valued at approximately $1,773,000.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Diamondback Energy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after purchasing an additional 176,208 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Diamondback Energy by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after buying an additional 2,381,488 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Diamondback Energy by 16.0% during the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after buying an additional 415,902 shares during the period. Boston Partners boosted its position in Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after acquiring an additional 1,916,900 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Diamondback Energy by 10.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after acquiring an additional 247,065 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $181.63 on Friday. The company has a market capitalization of $32.39 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.06 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. Diamondback Energy, Inc. has a 1-year low of $143.08 and a 1-year high of $214.50. The business has a 50-day moving average of $192.75 and a 200-day moving average of $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, beating the consensus estimate of $4.51 by $0.01. The company had revenue of $2.48 billion during 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 quarter last year, the company earned $3.68 earnings per share. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid 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 of this dividend was Thursday, August 15th. This represents a yield of 1.9%. Diamondback Energy’s payout ratio is 20.29%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FANG. Benchmark reissued a “buy” rating and set a $154.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 6th. Scotiabank reduced their target price on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. KeyCorp initiated coverage on Diamondback Energy in a report on Thursday, June 27th. They issued an “overweight” rating and a $225.00 price target for the company. Wolfe Research began coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Morgan Stanley raised their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and an average price target of $209.71.

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.