Copperwynd Financial LLC decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 64.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,945 shares of the oil and natural gas company’s stock after selling 3,537 shares during the period. Copperwynd Financial LLC’s holdings in Diamondback Energy were worth $267,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BankPlus Trust Department bought a new stake in Diamondback Energy during the first quarter worth $27,000. Pinnacle Bancorp Inc. grew its holdings in Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 88 shares in the last quarter. SouthState Corp grew its holdings in Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 167 shares in the last quarter. WASHINGTON TRUST Co grew its holdings in Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock worth $32,000 after buying an additional 109 shares in the last quarter. Finally, Grove Bank & Trust grew its holdings in Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock worth $32,000 after buying an additional 80 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.
Analyst Ratings Changes
FANG has been the subject of several recent research reports. Mizuho decreased their price target on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a report on Monday, September 15th. KeyCorp dropped their price target on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 3rd. Wall Street Zen cut Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Raymond James Financial dropped their price target on Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, August 20th. Finally, William Blair initiated coverage on Diamondback Energy in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $192.55.
Diamondback Energy Stock Performance
Shares of FANG opened at $149.07 on Thursday. The stock’s 50-day simple moving average is $142.72 and its 200 day simple moving average is $141.45. The stock has a market capitalization of $43.15 billion, a price-to-earnings ratio of 10.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $197.68.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business’s revenue for the quarter was up 48.1% on a year-over-year basis. During the same period last year, the company posted $4.52 EPS. Research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.
Diamondback Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. Diamondback Energy’s dividend payout ratio is 28.43%.
Insider Transactions at Diamondback Energy
In related news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the sale, the chairman owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. This represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Diamondback Energy
- Buy P&G Now, Before It Sets A New All-Time High
- Lowe’s vs. Home Depot: Which Benefits More From Lower Rates?
- How to Most Effectively Use the MarketBeat Earnings Screener
- These 5 Beaten-Down Tech Stocks Could Catch Fire Next
- Options Trading – Understanding Strike Price
- Falcon Flex Drives Growth as CrowdStrike Bets on AI Security
Want to see what other hedge funds are holding FANG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondback Energy, Inc. (NASDAQ:FANG – Free Report).
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.