Holderness Investments Co. Increases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Holderness Investments Co. raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 16.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,890 shares of the oil and natural gas company’s stock after buying an additional 267 shares during the quarter. Holderness Investments Co.’s holdings in Diamondback Energy were worth $378,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FANG. Franklin Resources Inc. raised its position in shares of Diamondback Energy by 14.1% in the 4th quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock valued at $7,852,000 after purchasing an additional 6,240 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Diamondback Energy by 178.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock valued at $6,112,000 after buying an additional 19,552 shares during the last quarter. TFO Wealth Partners LLC increased its position in shares of Diamondback Energy by 78,990.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,909 shares of the oil and natural gas company’s stock valued at $1,227,000 after acquiring an additional 7,899 shares during the period. Integrated Advisors Network LLC raised its stake in Diamondback Energy by 92.8% in the 4th quarter. Integrated Advisors Network LLC now owns 13,031 shares of the oil and natural gas company’s stock worth $2,021,000 after acquiring an additional 6,272 shares during the last quarter. Finally, Kapitalo Investimentos Ltda lifted its position in Diamondback Energy by 1,842.5% during the 4th quarter. Kapitalo Investimentos Ltda now owns 4,390 shares of the oil and natural gas company’s stock worth $681,000 after acquiring an additional 4,164 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $181.00 on Friday. The stock has a market capitalization of $32.28 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.06 and a beta of 1.89. The company’s fifty day moving average price is $192.28 and its 200 day moving average price is $195.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its 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 net margin of 37.51% and a return on equity of 19.54%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the business earned $3.68 earnings per share. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on FANG shares. Scotiabank cut their price objective on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Royal Bank of Canada reissued an “outperform” rating and set a $220.00 price target on shares of Diamondback Energy in a research report on Tuesday, September 17th. StockNews.com downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. 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 report on Monday, September 16th. Finally, UBS Group lowered their price target on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.