Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Nemes Rush Group LLC

Nemes Rush Group LLC increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,922 shares of the oil and natural gas company’s stock after acquiring an additional 248 shares during the quarter. Nemes Rush Group LLC’s holdings in Diamondback Energy were worth $1,186,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Diamondback Energy by 178.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after purchasing an additional 19,552 shares during the last quarter. Integrated Advisors Network LLC grew its position in shares of Diamondback Energy by 92.8% during the fourth quarter. Integrated Advisors Network LLC now owns 13,031 shares of the oil and natural gas company’s stock worth $2,021,000 after buying an additional 6,272 shares in the last quarter. Kapitalo Investimentos Ltda increased its stake in shares of Diamondback Energy by 1,842.5% in the fourth quarter. Kapitalo Investimentos Ltda now owns 4,390 shares of the oil and natural gas company’s stock worth $681,000 after buying an additional 4,164 shares during the last quarter. Central Valley Advisors LLC acquired a new stake in Diamondback Energy in the first quarter valued at $1,801,000. Finally, TD Asset Management Inc raised its holdings in Diamondback Energy by 3.8% in the fourth quarter. TD Asset Management Inc now owns 118,201 shares of the oil and natural gas company’s stock valued at $18,331,000 after acquiring an additional 4,358 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FANG shares. Benchmark reissued a “buy” rating and issued a $154.00 target price on shares of Diamondback Energy in a research report on Tuesday, August 6th. Sanford C. Bernstein cut their price objective 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. Johnson Rice lowered Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. KeyCorp began 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. Finally, StockNews.com cut Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.71.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $170.63 on Friday. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The firm has a market capitalization of $30.43 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89. The business has a 50 day simple moving average of $189.17 and a 200 day simple moving average of $195.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (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 company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the business posted $3.68 earnings per share. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 18.97 EPS for the current year.

Diamondback Energy Increases Dividend

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