Fulcrum Capital LLC Grows Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Fulcrum Capital LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,226 shares of the oil and natural gas company’s stock after purchasing an additional 56 shares during the quarter. Fulcrum Capital LLC’s holdings in Diamondback Energy were worth $4,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hartford Investment Management Co. grew its holdings in Diamondback Energy by 2.7% in the third quarter. Hartford Investment Management Co. now owns 11,790 shares of the oil and natural gas company’s stock worth $2,033,000 after purchasing an additional 307 shares during the last quarter. Segment Wealth Management LLC lifted its stake in shares of Diamondback Energy by 2.4% during the third quarter. Segment Wealth Management LLC now owns 71,917 shares of the oil and natural gas company’s stock worth $12,398,000 after buying an additional 1,705 shares during the period. BLB&B Advisors LLC lifted its stake in shares of Diamondback Energy by 23.4% during the third quarter. BLB&B Advisors LLC now owns 28,239 shares of the oil and natural gas company’s stock worth $4,868,000 after buying an additional 5,355 shares during the period. Stanley Laman Group Ltd. lifted its stake in shares of Diamondback Energy by 1.1% during the third quarter. Stanley Laman Group Ltd. now owns 22,512 shares of the oil and natural gas company’s stock worth $3,881,000 after buying an additional 240 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Diamondback Energy by 2.4% during the third quarter. Signaturefd LLC now owns 3,944 shares of the oil and natural gas company’s stock worth $680,000 after buying an additional 92 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FANG shares. Bank of America lifted their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Johnson Rice downgraded shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Benchmark lifted their price objective on shares of Diamondback Energy from $154.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. StockNews.com downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Finally, JPMorgan Chase & Co. started coverage on shares of Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Diamondback Energy Stock Down 1.6 %

FANG stock opened at $181.12 on Thursday. The stock has a market capitalization of $32.30 billion, a P/E ratio of 10.21, a P/E/G ratio of 1.22 and a beta of 1.89. The firm has a 50-day simple moving average of $185.42 and a 200-day simple moving average of $194.34. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.68 earnings per share. Equities analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced 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 represents a dividend yield of 1.9%. This is a boost from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s payout ratio is currently 20.29%.

About Diamondback Energy

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.