AE Wealth Management LLC Acquires 1,068 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

AE Wealth Management LLC increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,914 shares of the oil and natural gas company’s stock after buying an additional 1,068 shares during the period. AE Wealth Management LLC’s holdings in Diamondback Energy were worth $3,987,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FANG. Vanguard Group Inc. lifted its holdings in shares of Diamondback Energy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock worth $3,391,567,000 after purchasing an additional 176,208 shares during the period. Price T Rowe Associates Inc. MD raised its position in Diamondback Energy by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after buying an additional 415,902 shares during the period. Boston Partners grew its position in shares of Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after buying an additional 1,916,900 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Diamondback Energy by 10.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock valued at $538,547,000 after buying an additional 247,065 shares during the period. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FANG has been the topic of several analyst reports. Sanford C. Bernstein reduced their target price on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. KeyCorp started coverage on shares of Diamondback Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective for the company. Bank of America lifted their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Piper Sandler cut their price target on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Finally, Jefferies Financial Group started coverage on Diamondback Energy in a research report on Monday, September 16th. They issued a “hold” rating and a $185.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.71.

Diamondback Energy Stock Down 0.3 %

Diamondback Energy stock opened at $181.00 on Monday. The firm has a market capitalization of $32.28 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. The firm’s fifty day moving average price is $192.28 and its two-hundred day moving average price is $195.78. Diamondback Energy, Inc. has a 1-year low of $143.08 and a 1-year high of $214.50. 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 announced its quarterly earnings results 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 business 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 firm’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.68 EPS. On average, equities research analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced 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 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 dividend yield of 1.9%. Diamondback Energy’s payout ratio is presently 20.29%.

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.