Brighton Jones LLC Boosts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Brighton Jones LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,821 shares of the oil and natural gas company’s stock after purchasing an additional 60 shares during the quarter. Brighton Jones LLC’s holdings in Diamondback Energy were worth $1,566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FANG. Intech Investment Management LLC boosted its holdings in Diamondback Energy by 226.8% during the 2nd quarter. Intech Investment Management LLC now owns 51,043 shares of the oil and natural gas company’s stock valued at $10,218,000 after acquiring an additional 35,425 shares during the period. Inspire Investing LLC boosted its holdings in Diamondback Energy by 10.5% during the 2nd quarter. Inspire Investing LLC now owns 22,794 shares of the oil and natural gas company’s stock valued at $4,563,000 after acquiring an additional 2,159 shares during the period. Goehring & Rozencwajg Associates LLC boosted its holdings in Diamondback Energy by 17.2% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 66,701 shares of the oil and natural gas company’s stock valued at $13,353,000 after acquiring an additional 9,800 shares during the period. XTX Topco Ltd purchased a new stake in Diamondback Energy during the 2nd quarter valued at about $577,000. Finally, Carolinas Wealth Consulting LLC boosted its holdings in 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. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 0.3 %

FANG stock opened at $181.00 on Friday. Diamondback Energy, Inc. has a twelve month low of $143.08 and a twelve month high of $214.50. 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 firm has a market cap of $32.28 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. The business has a 50 day moving average of $192.28 and a 200 day moving average of $195.57.

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. On average, research analysts forecast that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have commented on FANG. Wolfe Research began coverage on Diamondback Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Jefferies Financial Group began coverage on Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 price target for the company. Truist Financial upped their price target on Diamondback Energy from $249.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Piper Sandler lowered their price target on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, Bank of America upped their price target on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. One 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.