49,235 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,235 shares of the oil and natural gas company’s stock, valued at approximately $10,229,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Clearbridge Investments LLC increased its holdings in Diamondback Energy by 45.1% during the second quarter. Clearbridge Investments LLC now owns 296,752 shares of the oil and natural gas company’s stock worth $59,407,000 after buying an additional 92,213 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the 2nd quarter valued at about $402,000. Cetera Investment Advisers increased its stake in shares of Diamondback Energy by 3.1% during the 2nd quarter. Cetera Investment Advisers now owns 47,919 shares of the oil and natural gas company’s stock worth $9,593,000 after purchasing an additional 1,431 shares during the last quarter. Regal Investment Advisors LLC raised its holdings in shares of Diamondback Energy by 0.9% in the 2nd quarter. Regal Investment Advisors LLC now owns 30,514 shares of the oil and natural gas company’s stock valued at $6,109,000 after purchasing an additional 266 shares during the period. Finally, Quarry LP lifted its stake in Diamondback Energy by 87.1% in the 2nd quarter. Quarry LP now owns 16,410 shares of the oil and natural gas company’s stock valued at $3,285,000 after purchasing an additional 7,637 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FANG shares. Sanford C. Bernstein dropped their price objective on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Piper Sandler reduced their price objective on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Wolfe Research assumed coverage on shares of Diamondback Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, KeyCorp started coverage on shares of Diamondback Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $225.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and an average price target of $207.68.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $188.30 on Friday. The stock has a market capitalization of $33.58 billion, a PE ratio of 10.61, a P/E/G ratio of 1.17 and a beta of 1.89. 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 debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The business has a fifty day moving average price of $187.52 and a two-hundred day moving average price of $195.20.

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, topping the consensus estimate of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the business posted $3.68 earnings per share. Diamondback Energy’s revenue was up 29.4% compared to the same quarter last year. As a group, equities analysts predict that Diamondback Energy, Inc. will post 18.97 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $2.34 dividend. This represents a yield of 1.9%. 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. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

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.