Distillate Capital Partners LLC Purchases 104,707 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Distillate Capital Partners LLC raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 127,691.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 104,789 shares of the oil and natural gas company’s stock after purchasing an additional 104,707 shares during the quarter. Diamondback Energy accounts for approximately 1.1% of Distillate Capital Partners LLC’s holdings, making the stock its 21st biggest position. Distillate Capital Partners LLC owned about 0.06% of Diamondback Energy worth $20,978,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Quent Capital LLC grew its position in Diamondback Energy by 7.2% during the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after buying an additional 54 shares during the period. Carolinas Wealth Consulting LLC grew its position 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 acquiring an additional 55 shares during the period. Sugarloaf Wealth Management LLC increased its stake in shares of Diamondback Energy by 0.3% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after purchasing an additional 56 shares in the last quarter. Versant Capital Management Inc raised its holdings in Diamondback Energy by 16.1% in the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock worth $82,000 after purchasing an additional 57 shares during the period. Finally, Confluence Investment Management LLC lifted its position in Diamondback Energy by 1.6% during 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 purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 2.3 %

NASDAQ FANG opened at $185.25 on Tuesday. The stock has a market cap of $33.04 billion, a PE ratio of 10.44, a PEG ratio of 1.06 and a beta of 1.89. Diamondback Energy, Inc. has a 12 month low of $143.08 and a 12 month high of $214.50. The company’s 50-day moving average price is $191.77 and its 200-day moving average price is $195.80. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last issued its 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 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 period last year, the company posted $3.68 earnings per share. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. Equities research analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a dividend of $2.34 per share. This is an increase 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 presently 20.29%.

Analysts Set New Price Targets

FANG has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and issued a $154.00 price objective on shares of Diamondback Energy in a research note on Tuesday, August 6th. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They issued a “hold” rating and a $185.00 price target for the company. Wolfe Research began coverage on Diamondback Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Truist Financial increased their price objective on shares of Diamondback Energy from $249.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, UBS Group lowered their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average 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.