Hsbc Holdings PLC Boosts Stock Holdings in Diamondback Energy, Inc. $FANG

Hsbc Holdings PLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 16.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 338,577 shares of the oil and natural gas company’s stock after acquiring an additional 47,450 shares during the period. Hsbc Holdings PLC’s holdings in Diamondback Energy were worth $50,890,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Flagship Harbor Advisors LLC purchased a new position in shares of Diamondback Energy during the fourth quarter valued at about $25,000. Richardson Financial Services Inc. lifted its position in shares of Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after buying an additional 125 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth about $26,000. JPL Wealth Management LLC bought a new position in Diamondback Energy during the third quarter valued at approximately $26,000. Finally, Wellington Shields & Co. LLC boosted its stake in Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, Director Charles Alvin Meloy sold 83,334 shares of Diamondback Energy stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the transaction, the director directly owned 851,530 shares of the company’s stock, valued at approximately $159,338,293.60. The trade was a 8.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the 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 sale, the director directly owned 13,437 shares in the company, valued at $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 121,548 shares of company stock valued at $23,146,460 in the last quarter. 0.64% of the stock is currently owned by company insiders.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $187.91 on Wednesday. The stock has a market cap of $52.86 billion, a price-to-earnings ratio of 218.50 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The stock has a 50 day moving average price of $195.06 and a 200-day moving average price of $177.23. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.Diamondback Energy’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.54 EPS. Equities analysts expect that Diamondback Energy, Inc. will post 19.92 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a $1.10 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. Diamondback Energy’s dividend payout ratio (DPR) is 511.63%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a research note on Wednesday, May 27th. The Goldman Sachs Group increased their target price on Diamondback Energy from $187.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Barclays raised their target price on shares of Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Morgan Stanley upped their price target on shares of Diamondback Energy from $224.00 to $229.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Finally, KeyCorp increased their price objective on shares of Diamondback Energy from $196.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Five research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $221.37.

About Diamondback Energy

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.