Inspire Investing LLC Boosts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Inspire Investing LLC boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 10.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,794 shares of the oil and natural gas company’s stock after buying an additional 2,159 shares during the quarter. Inspire Investing LLC’s holdings in Diamondback Energy were worth $4,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in 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 worth $7,852,000 after acquiring an additional 6,240 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in 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 worth $6,112,000 after purchasing an additional 19,552 shares during the period. TFO Wealth Partners LLC increased its stake in shares of Diamondback Energy by 78,990.0% in the fourth quarter. TFO Wealth Partners LLC now owns 7,909 shares of the oil and natural gas company’s stock worth $1,227,000 after purchasing an additional 7,899 shares in the last quarter. Integrated Advisors Network LLC raised its position 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 valued at $2,021,000 after purchasing an additional 6,272 shares during the period. Finally, Kapitalo Investimentos Ltda lifted its stake in shares of 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 valued at $681,000 after buying an additional 4,164 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. KeyCorp began coverage on shares of Diamondback Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $225.00 target price on the stock. Bank of America increased their price objective on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Piper Sandler cut their target price on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Sanford C. Bernstein decreased their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Finally, Morgan Stanley raised their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.71.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $178.12 on Thursday. The company has a 50 day simple moving average of $193.26 and a two-hundred day simple moving average of $195.65. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The company has a market capitalization of $31.77 billion, a price-to-earnings ratio of 10.04, a P/E/G 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 posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the company earned $3.68 EPS. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. Analysts expect that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

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.