Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 22.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,377 shares of the oil and natural gas company’s stock after acquiring an additional 630 shares during the period. L. Roy Papp & Associates LLP’s holdings in Diamondback Energy were worth $676,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Founders Capital Management boosted its position in Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 101 shares during the period. First Community Trust NA acquired a new position in Diamondback Energy during the 2nd quarter valued at about $26,000. Logan Capital Management Inc. acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $31,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Diamondback Energy during the first quarter valued at approximately $49,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Diamondback Energy by 37.3% during the fourth quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock worth $50,000 after buying an additional 87 shares during the period. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Up 1.8 %

NASDAQ:FANG traded up $3.49 during trading hours on Friday, hitting $195.22. 755,120 shares of the stock traded hands, compared to its average volume of 1,546,261. 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 current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The firm has a market cap of $34.82 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.06 and a beta of 1.90. The firm has a 50 day moving average price of $198.50 and a 200 day moving average price of $193.67.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period last year, the company posted $3.68 EPS. Equities research analysts anticipate that Diamondback Energy, Inc. will post 18.63 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $2.34 dividend. This represents a yield of 1.9%. The ex-dividend date of this dividend 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 is currently 20.29%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FANG. Mizuho increased their price target on Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. StockNews.com cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Benchmark reissued a “buy” rating and set a $154.00 target price on shares of Diamondback Energy in a report on Tuesday, August 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of Diamondback Energy in a research report on Tuesday, August 13th. Finally, Wolfe Research started coverage on Diamondback Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.85.

Insiders Place Their Bets

In related news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the sale, the chief operating officer now owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

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.