Waverly Advisors LLC Acquires 127,732 Shares of Diamondback Energy, Inc. $FANG

Waverly Advisors LLC raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 347.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,536 shares of the oil and natural gas company’s stock after acquiring an additional 127,732 shares during the quarter. Waverly Advisors LLC’s holdings in Diamondback Energy were worth $28,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Cresset Asset Management LLC raised its stake in shares of Diamondback Energy by 37.5% in the second quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock worth $649,000 after buying an additional 1,288 shares during the period. Jump Financial LLC purchased a new position in Diamondback Energy during the second quarter valued at approximately $2,301,000. Cerity Partners LLC lifted its holdings in Diamondback Energy by 13.5% during the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock valued at $7,022,000 after purchasing an additional 6,069 shares in the last quarter. AXA S.A. raised its position in shares of Diamondback Energy by 8.5% during the 2nd quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock valued at $7,194,000 after purchasing an additional 4,103 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Diamondback Energy by 37.1% during the 2nd quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock valued at $21,239,000 after buying an additional 41,866 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, Director Charles Meloy sold 83,334 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total value of $15,593,458.08. Following the transaction, the director owned 851,530 shares of the company’s stock, valued at $159,338,293.60. This trade represents a 8.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Mizuho upped their target price on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Wells Fargo & Company boosted their price objective on Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Susquehanna upped their price objective on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Finally, Truist Financial lifted their target price on Diamondback Energy from $220.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $222.21.

Diamondback Energy Trading Up 0.2%

NASDAQ FANG traded up $0.43 on Tuesday, hitting $199.65. 2,284,210 shares of the stock were exchanged, compared to its average volume of 2,566,843. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $216.90. The firm has a market capitalization of $55.91 billion, a P/E ratio of 38.92 and a beta of 0.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The stock has a fifty day moving average price of $195.85 and a two-hundred day moving average price of $192.26.

Diamondback Energy (NASDAQ:FANG) last released 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 firm had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the firm posted $2.38 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. Research analysts forecast that Diamondback Energy, Inc. will post 20.14 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

Diamondback Energy Company 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.