1832 Asset Management L.P. Increases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

1832 Asset Management L.P. lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 81.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,452 shares of the oil and natural gas company’s stock after acquiring an additional 73,400 shares during the quarter. 1832 Asset Management L.P. owned 0.09% of Diamondback Energy worth $32,721,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FANG. Quent Capital LLC increased its position in shares of Diamondback Energy by 7.2% during the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after purchasing an additional 54 shares during the last quarter. Carolinas Wealth Consulting LLC increased its holdings in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Sugarloaf Wealth Management LLC raised its position in Diamondback Energy by 0.3% in the second quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after acquiring an additional 56 shares during the period. Versant Capital Management Inc boosted its stake in Diamondback Energy by 16.1% in the second quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after acquiring an additional 57 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its stake in Diamondback Energy by 1.6% in 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 acquiring an additional 58 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Up 2.3 %

Diamondback Energy stock opened at $185.25 on Tuesday. 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, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The stock has a market cap of $33.04 billion, a P/E ratio of 10.44, a PEG ratio of 1.06 and a beta of 1.89. The firm’s fifty day moving average price is $191.77 and its 200-day moving average price is $195.80.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.68 EPS. Equities research analysts forecast 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 paid a $2.34 dividend. This is an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

Analyst Ratings Changes

A number of research firms recently commented on FANG. Benchmark reaffirmed a “buy” rating and issued a $154.00 price target on shares of Diamondback Energy in a report on Tuesday, August 6th. Wolfe Research assumed coverage on Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. KeyCorp initiated coverage on Diamondback Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $225.00 price target for the company. Truist Financial lifted their price objective on Diamondback Energy from $249.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, UBS Group dropped their price objective 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 equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $209.71.

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.