Davidson Capital Management Inc. Acquires 1,666 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Davidson Capital Management Inc. boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,611 shares of the oil and natural gas company’s stock after purchasing an additional 1,666 shares during the period. Diamondback Energy comprises 1.0% of Davidson Capital Management Inc.’s holdings, making the stock its 17th largest position. Davidson Capital Management Inc.’s holdings in Diamondback Energy were worth $3,325,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Founders Capital Management boosted its holdings in shares of Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after buying an additional 101 shares during the last quarter. First Community Trust NA purchased a new position in Diamondback Energy in the second quarter valued at about $26,000. Carolinas Wealth Consulting LLC increased its stake 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 worth $27,000 after purchasing an additional 55 shares during the last quarter. Logan Capital Management Inc. bought a new stake in shares of Diamondback Energy in the 4th quarter worth approximately $31,000. Finally, HHM Wealth Advisors LLC purchased a new position in Diamondback Energy in the second quarter valued at approximately $40,000. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FANG shares. Bank of America boosted their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Benchmark reaffirmed a “buy” rating and set a $154.00 price objective on shares of Diamondback Energy in a report on Tuesday, August 6th. Wolfe Research started coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays upped their price target on shares of Diamondback Energy from $214.00 to $216.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Sanford C. Bernstein reduced their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $209.71.

Diamondback Energy Stock Up 2.0 %

FANG stock opened at $181.63 on Friday. Diamondback Energy, Inc. has a 1-year low of $143.08 and a 1-year high of $214.50. The stock has a market cap of $32.39 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $192.75 and its 200 day moving average is $195.55.

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 the consensus estimate of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the company posted $3.68 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

About Diamondback Energy

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.