Fidelis Capital Partners LLC Increases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Fidelis Capital Partners LLC raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 11.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,641 shares of the oil and natural gas company’s stock after purchasing an additional 573 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Diamondback Energy were worth $1,080,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FANG. Franklin Resources Inc. boosted its position in shares of Diamondback Energy by 14.1% during the fourth quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock valued at $7,852,000 after buying an additional 6,240 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Diamondback Energy by 178.1% during the 2nd 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 acquiring an additional 19,552 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in shares of Diamondback Energy by 78,990.0% during 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 last quarter. Integrated Advisors Network LLC grew its stake in shares of Diamondback Energy by 92.8% in the fourth 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 period. Finally, Kapitalo Investimentos Ltda lifted its position in Diamondback Energy by 1,842.5% during the fourth quarter. Kapitalo Investimentos Ltda now owns 4,390 shares of the oil and natural gas company’s stock valued at $681,000 after purchasing an additional 4,164 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $181.00 on Monday. The company has a market capitalization of $32.28 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.06 and a beta of 1.89. 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 stock’s 50-day simple moving average is $192.28 and its 200-day simple moving average is $195.78. Diamondback Energy, Inc. has a 52 week low of $143.08 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the firm earned $3.68 EPS. The firm’s revenue was up 29.4% compared to the same quarter last year. As a group, analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given 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 dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Analyst Ratings Changes

A number of research firms have commented on FANG. Morgan Stanley lifted 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, September 16th. Barclays lifted their price objective on Diamondback Energy from $214.00 to $216.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Truist Financial increased their target price on Diamondback Energy from $249.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $220.00 price target on shares of Diamondback Energy in a research note on Tuesday, September 17th. Finally, StockNews.com lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.