Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Trimmed by Sagefield Capital LP

Sagefield Capital LP lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,210 shares of the oil and natural gas company’s stock after selling 11,479 shares during the period. Diamondback Energy comprises approximately 3.6% of Sagefield Capital LP’s holdings, making the stock its 9th largest holding. Sagefield Capital LP owned about 0.10% of Diamondback Energy worth $34,275,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Founders Capital Management boosted its position in Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 101 shares in the last quarter. First Community Trust NA bought a new stake in Diamondback Energy during the second quarter valued at about $26,000. Carolinas Wealth Consulting LLC boosted its position in Diamondback Energy by 67.1% during 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 purchasing an additional 55 shares in the last quarter. Logan Capital Management Inc. bought a new stake in Diamondback Energy during the fourth quarter valued at about $31,000. Finally, HHM Wealth Advisors LLC acquired a new stake in Diamondback Energy in the second quarter worth about $40,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $185.25 on Tuesday. The company’s fifty day moving average price is $191.77 and its 200 day moving average price is $195.80. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50. The company has a market capitalization of $33.04 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. 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 (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the firm posted $3.68 earnings per share. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, research analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed 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. This represents a yield of 1.9%. This is an increase from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Wall Street Analyst Weigh In

FANG has been the subject of several recent analyst reports. Scotiabank lowered their price target on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Bank of America raised their price target on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Sanford C. Bernstein lowered their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Wolfe Research initiated coverage on Diamondback Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, KeyCorp began 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. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy 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.