Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by GDS Wealth Management

GDS Wealth Management grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,804 shares of the oil and natural gas company’s stock after acquiring an additional 1,517 shares during the quarter. Diamondback Energy comprises 2.1% of GDS Wealth Management’s portfolio, making the stock its 11th biggest position. GDS Wealth Management owned about 0.05% of Diamondback Energy worth $18,979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Founders Capital Management grew its stake in shares of Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after buying an additional 101 shares in the last quarter. First Community Trust NA purchased a new position in Diamondback Energy in the second quarter valued at about $26,000. Logan Capital Management Inc. purchased a new position in Diamondback Energy in the fourth quarter valued at about $31,000. HHM Wealth Advisors LLC purchased a new position in Diamondback Energy in the second quarter valued at about $40,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Diamondback Energy in the fourth quarter valued at about $54,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FANG shares. Bank of America increased their price target on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Jefferies Financial Group started coverage on Diamondback Energy in a report on Monday. They issued a “hold” rating and a $185.00 price target for the company. KeyCorp initiated coverage on Diamondback Energy in a report on Thursday, June 27th. They issued an “overweight” rating and a $225.00 price target for the company. Benchmark reaffirmed a “buy” rating and set a $154.00 target price on shares of Diamondback Energy in a report on Tuesday, August 6th. Finally, Susquehanna reduced their target price on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $210.86.

Diamondback Energy Stock Performance

FANG opened at $174.81 on Tuesday. The firm has a market cap of $31.18 billion, a PE ratio of 9.85, a P/E/G ratio of 1.06 and a beta of 1.89. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $194.20 and a 200-day simple moving average of $195.81. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.01. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company’s revenue was up 29.4% compared to the same quarter last year. During the same period last year, the company posted $3.68 EPS. As a group, equities analysts predict that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a dividend of $2.34 per share. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

Diamondback Energy 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.