Massachusetts Financial Services Co. MA Grows Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Massachusetts Financial Services Co. MA boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 10.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,690,181 shares of the oil and natural gas company’s stock after buying an additional 247,065 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.51% of Diamondback Energy worth $538,547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quent Capital LLC grew its stake in Diamondback Energy by 7.2% in the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after purchasing an additional 54 shares during the last quarter. Sugarloaf Wealth Management LLC grew its stake in shares of Diamondback Energy by 0.3% during the second quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after acquiring an additional 56 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Diamondback Energy by 16.1% during the second quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock worth $82,000 after acquiring an additional 57 shares during the last quarter. Confluence Investment Management LLC grew its stake in shares of Diamondback Energy by 1.6% during the second quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock worth $734,000 after acquiring an additional 58 shares during the last quarter. Finally, Center For Asset Management LLC grew its stake in shares of Diamondback Energy by 3.3% during the second quarter. Center For Asset Management LLC now owns 1,859 shares of the oil and natural gas company’s stock worth $372,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 1.4 %

Shares of FANG stock opened at $174.81 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. Diamondback Energy, Inc. has a 1-year low of $143.08 and a 1-year high of $214.50. The company has a market cap of $31.18 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.06 and a beta of 1.89. The stock has a 50 day simple moving average of $194.20 and a 200-day simple moving average of $195.81.

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

Diamondback Energy Increases Dividend

The company also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $2.34 per share. This represents a dividend yield of 1.9%. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. Diamondback Energy’s payout ratio is presently 20.29%.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research analyst reports. Benchmark restated a “buy” rating and set a $154.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 6th. Sanford C. Bernstein dropped their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Scotiabank dropped their price target on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Barclays boosted their price target on Diamondback Energy from $214.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler decreased their target price on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $210.86.

Diamondback Energy Company 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.