Sanctuary Advisors LLC Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Sanctuary Advisors LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 49,235 shares of the oil and natural gas company’s stock, valued at approximately $10,229,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Clearbridge Investments LLC boosted its stake in shares of Diamondback Energy by 45.1% during the second quarter. Clearbridge Investments LLC now owns 296,752 shares of the oil and natural gas company’s stock valued at $59,407,000 after purchasing an additional 92,213 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in Diamondback Energy during the 2nd quarter worth approximately $402,000. Cetera Investment Advisers increased its position in Diamondback Energy by 3.1% in the 2nd quarter. Cetera Investment Advisers now owns 47,919 shares of the oil and natural gas company’s stock valued at $9,593,000 after acquiring an additional 1,431 shares during the period. Regal Investment Advisors LLC lifted its holdings in shares of Diamondback Energy by 0.9% during the second quarter. Regal Investment Advisors LLC now owns 30,514 shares of the oil and natural gas company’s stock worth $6,109,000 after purchasing an additional 266 shares during the period. Finally, Quarry LP grew its stake in shares of Diamondback Energy by 87.1% in the second quarter. Quarry LP now owns 16,410 shares of the oil and natural gas company’s stock worth $3,285,000 after purchasing an additional 7,637 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $188.30 on Friday. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average price of $187.52 and a 200-day moving average price of $195.20. Diamondback Energy, Inc. has a 52 week low of $143.08 and a 52 week high of $214.50. The company has a market cap of $33.58 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89.

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 for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm’s revenue was up 29.4% on a year-over-year basis. During the same period last year, the firm earned $3.68 earnings per share. Equities analysts anticipate that Diamondback Energy, Inc. will post 18.97 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm 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. 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 of this dividend was Thursday, August 15th. Diamondback Energy’s payout ratio is presently 20.29%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FANG. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $216.00 to $210.00 in a research report on Wednesday. Scotiabank dropped their price target on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Truist Financial lowered their target price on shares of Diamondback Energy from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price target on shares of Diamondback Energy in a research report on Tuesday, September 17th. Finally, Sanford C. Bernstein dropped 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $207.68.

Insider Buying and Selling at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy 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.