Benjamin Edwards Inc. Increases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Benjamin Edwards Inc. increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3,383.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,090 shares of the oil and natural gas company’s stock after acquiring an additional 2,030 shares during the period. Benjamin Edwards Inc.’s holdings in Diamondback Energy were worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Founders Capital Management lifted its stake in Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after acquiring an additional 101 shares during the period. First Community Trust NA acquired a new stake in Diamondback Energy during the 2nd quarter worth about $26,000. Carolinas Wealth Consulting LLC raised 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 valued at $27,000 after buying an additional 55 shares during the last quarter. Logan Capital Management Inc. acquired a new position in shares of Diamondback Energy in the 4th quarter valued at about $31,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the second quarter worth about $40,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. StockNews.com downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Bank of America lifted their price target on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Scotiabank lowered their price target 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. Finally, Sanford C. Bernstein cut their price objective on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $209.71.

Diamondback Energy Trading Down 0.3 %

Shares of FANG stock opened at $181.00 on Friday. Diamondback Energy, Inc. has a 1-year low of $143.08 and a 1-year high of $214.50. The firm has a market cap of $32.28 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. The company has a 50-day moving average of $192.28 and a two-hundred day moving average of $195.57. 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 (NASDAQ:FANG) last posted its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the firm earned $3.68 EPS. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced 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 a positive change 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 dividend payout ratio is presently 20.29%.

About Diamondback Energy

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.