MGO One Seven LLC Grows Stock Holdings in Diamondback Energy, Inc. $FANG

MGO One Seven LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 111.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,325 shares of the oil and natural gas company’s stock after acquiring an additional 1,752 shares during the period. MGO One Seven LLC’s holdings in Diamondback Energy were worth $457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FANG. Welch Group LLC increased its holdings in Diamondback Energy by 4.7% in the 2nd quarter. Welch Group LLC now owns 4,590 shares of the oil and natural gas company’s stock valued at $631,000 after purchasing an additional 207 shares in the last quarter. CWM LLC boosted its position in shares of Diamondback Energy by 48.0% in the second quarter. CWM LLC now owns 12,170 shares of the oil and natural gas company’s stock worth $1,672,000 after buying an additional 3,945 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Diamondback Energy by 31.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 35,364 shares of the oil and natural gas company’s stock valued at $4,859,000 after buying an additional 8,530 shares during the period. Inspire Investing LLC lifted its position in Diamondback Energy by 10.1% during the 2nd quarter. Inspire Investing LLC now owns 44,646 shares of the oil and natural gas company’s stock worth $6,134,000 after acquiring an additional 4,098 shares in the last quarter. Finally, Aberdeen Group plc lifted its position in Diamondback Energy by 4.2% during the 2nd quarter. Aberdeen Group plc now owns 98,547 shares of the oil and natural gas company’s stock worth $13,540,000 after acquiring an additional 4,017 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

FANG opened at $139.09 on Friday. The company has a market capitalization of $40.27 billion, a P/E ratio of 9.89 and a beta of 1.04. The company has a 50-day moving average of $142.18 and a 200-day moving average of $140.36. 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 1-year low of $114.00 and a 1-year high of $186.74.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The firm’s revenue for the quarter was up 48.1% on a year-over-year basis. During the same quarter last year, the business posted $4.52 earnings per share. Equities analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is currently 28.43%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the transaction, the chairman owned 102,145 shares of the company’s stock, valued at $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FANG shares. UBS Group lifted their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Barclays dropped their price target on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Evercore ISI upped their price objective on shares of Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Melius Research initiated coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 target price on the stock. Finally, William Blair initiated coverage on Diamondback Energy in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $189.91.

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.