Caprock Group LLC Buys 662 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Caprock Group LLC increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 9.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,837 shares of the oil and natural gas company’s stock after purchasing an additional 662 shares during the period. Caprock Group LLC’s holdings in Diamondback Energy were worth $1,569,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Diamondback Energy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after purchasing an additional 176,208 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Diamondback Energy by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after buying an additional 2,381,488 shares during the period. Bank of New York Mellon Corp lifted its holdings in Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after buying an additional 415,902 shares during the period. Boston Partners boosted its stake in Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after acquiring an additional 1,916,900 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Diamondback Energy by 3.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 671,921 shares of the oil and natural gas company’s stock worth $134,512,000 after acquiring an additional 25,491 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Piper Sandler cut their price target on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company reduced their target price on Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Royal Bank of Canada restated an “outperform” rating and set a $220.00 target price on shares of Diamondback Energy in a research report on Tuesday, August 13th. UBS Group increased their price target on shares of Diamondback Energy from $245.00 to $247.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Susquehanna reduced their price objective on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $179.21 on Tuesday. The firm has a market capitalization of $31.97 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 1.13 and a beta of 1.89. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average price is $197.55 and its two-hundred day moving average price is $196.06. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly 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 return on equity of 19.54% and a net margin of 37.51%. Diamondback Energy’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the company posted $3.68 earnings per share. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $2.34 dividend. This represents a yield of 1.9%. The ex-dividend date was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is 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.