Profund Advisors LLC Increases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Profund Advisors LLC increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,503 shares of the oil and natural gas company’s stock after purchasing an additional 586 shares during the period. Profund Advisors LLC’s holdings in Diamondback Energy were worth $4,505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Quent Capital LLC grew its position in shares of 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 valued at $162,000 after purchasing an additional 54 shares during the period. Carolinas Wealth Consulting LLC boosted its holdings in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its holdings 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 valued at $3,999,000 after acquiring an additional 56 shares during the last quarter. Versant Capital Management Inc boosted its holdings 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 valued at $82,000 after acquiring an additional 57 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its holdings 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 valued at $734,000 after acquiring an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.3 %

Shares of Diamondback Energy stock opened at $181.00 on Friday. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The firm has a market cap 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. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The business has a 50-day moving average price of $192.28 and a 200 day moving average price of $195.68.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data 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. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. Diamondback Energy’s quarterly revenue was up 29.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.68 earnings per share. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FANG. Jefferies Financial Group began coverage on Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 target price on the stock. Barclays lifted their target price on Diamondback Energy from $214.00 to $216.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Bank of America lifted their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Royal Bank of Canada restated an “outperform” rating and set a $220.00 price objective on shares of Diamondback Energy in a research note on Tuesday, September 17th. Finally, Truist Financial boosted their price objective on Diamondback Energy from $249.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. 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. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $209.71.

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.