Wellington Management Group LLP Has $2.89 Billion Holdings in Diamondback Energy, Inc. $FANG

Wellington Management Group LLP grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 31.3% in the 2nd quarter, Holdings Channel reports. The firm owned 16,420,247 shares of the oil and natural gas company’s stock after acquiring an additional 3,918,943 shares during the quarter. Wellington Management Group LLP owned 0.06% of Diamondback Energy worth $2,886,351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Diamondback Energy during the second quarter valued at $3,303,362,000. Boston Partners raised its position in shares of Diamondback Energy by 2.9% in the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after acquiring an additional 163,548 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 0.3% in the 4th 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. Bank of New York Mellon Corp lifted its stake in shares of Diamondback Energy by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after purchasing an additional 532,756 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of Diamondback Energy by 14.1% in the 4th quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after purchasing an additional 534,073 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

FANG stock opened at $197.67 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. The company’s 50-day moving average is $193.25 and its 200-day moving average is $190.49. The stock has a market capitalization of $55.35 billion, a PE ratio of 38.53 and a beta of 0.43. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $216.90.

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

Diamondback Energy Dividend Announcement

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

Insider Transactions at Diamondback Energy

In other news, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the sale, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles Alvin Meloy sold 33,333 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $198.41, for a total value of $6,613,600.53. Following the transaction, the director directly owned 818,197 shares in the company, valued at $162,338,466.77. The trade was a 3.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 129,167 shares of company stock worth $24,714,309. Insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen raised Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Mizuho boosted their price target on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Wells Fargo & Company increased their price target on Diamondback Energy from $262.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Sanford C. Bernstein raised their price objective on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Citigroup lowered their price objective on shares of Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.21.

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.