Lighthouse Investment Partners LLC Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Lighthouse Investment Partners LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,066 shares of the oil and natural gas company’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Founders Capital Management grew its stake in shares of Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares in the last quarter. First Community Trust NA purchased a new stake in Diamondback Energy in the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC lifted its position in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Logan Capital Management Inc. purchased a new position in shares of Diamondback Energy in the 4th quarter worth approximately $31,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the second quarter valued at approximately $40,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays lifted their price target on Diamondback Energy from $214.00 to $216.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Sanford C. Bernstein cut their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Piper Sandler decreased their price objective on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. StockNews.com cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. Finally, Scotiabank decreased their price target on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $209.71.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $170.63 on Monday. The business’s fifty day moving average is $189.17 and its 200 day moving average is $195.55. The firm has a market cap of $30.43 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 1.17 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. Diamondback Energy, Inc. has a 52-week low of $143.08 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the business posted $3.68 earnings per share. The company’s revenue was up 29.4% on a year-over-year basis. Research analysts predict that Diamondback Energy, Inc. will post 18.97 EPS for the current year.

Diamondback Energy Increases Dividend

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

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction 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 transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

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.