Diamondback Energy, Inc. $FANG Stock Position Raised by Continuum Advisory LLC

Continuum Advisory LLC grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 708.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,301 shares of the oil and natural gas company’s stock after buying an additional 7,274 shares during the quarter. Continuum Advisory LLC’s holdings in Diamondback Energy were worth $1,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Diamondback Energy in the second quarter worth approximately $3,303,362,000. Wellington Management Group LLP lifted its stake in Diamondback Energy by 31.3% in the second quarter. Wellington Management Group LLP now owns 16,420,247 shares of the oil and natural gas company’s stock valued at $2,886,351,000 after acquiring an additional 3,918,943 shares during the last quarter. Boston Partners lifted its stake in Diamondback Energy by 2.9% in the third quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock valued at $821,649,000 after acquiring an additional 163,548 shares during the last quarter. Geode Capital Management LLC grew its position in Diamondback Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after acquiring an additional 14,625 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Diamondback Energy by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock worth $775,607,000 after acquiring an additional 532,756 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the transaction, the director owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles Meloy sold 33,333 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $198.41, for a total value of $6,613,600.53. Following the sale, the director owned 818,197 shares of the company’s stock, valued at approximately $162,338,466.77. The trade was a 3.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 117,167 shares of company stock worth $22,305,309. 0.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on FANG shares. Wall Street Zen upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Seaport Research Partners initiated coverage on shares of Diamondback Energy in a report on Thursday. They issued a “neutral” rating for the company. Zacks Research downgraded shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Morgan Stanley restated an “equal weight” rating and set a $216.00 target price on shares of Diamondback Energy in a report on Wednesday, August 19th. Finally, Roth Capital set a $212.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, June 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.21.

Diamondback Energy Trading Down 0.2%

NASDAQ:FANG opened at $202.94 on Friday. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $216.90. The firm has a market cap of $56.83 billion, a price-to-earnings ratio of 39.56 and a beta of 0.43. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $194.61 and its 200-day moving average is $191.65.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. Diamondback Energy’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 EPS. Equities analysts anticipate that Diamondback Energy, Inc. will post 20.13 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Thursday, August 13th. Diamondback Energy’s dividend payout ratio is 85.77%.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.