Greenwood Capital Associates LLC Makes New Investment in Diamondback Energy Inc (NASDAQ:FANG)

Greenwood Capital Associates LLC purchased a new position in Diamondback Energy Inc (NASDAQ:FANG) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,340 shares of the oil and natural gas company’s stock, valued at approximately $691,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Archford Capital Strategies LLC grew its stake in Diamondback Energy by 1,100.0% during the second quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock worth $26,000 after buying an additional 220 shares during the period. Berman Capital Advisors LLC raised its stake in shares of Diamondback Energy by 180.8% in the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock valued at $29,000 after acquiring an additional 188 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Diamondback Energy during the 2nd quarter valued at $32,000. Manchester Capital Management LLC acquired a new position in shares of Diamondback Energy during the 1st quarter valued at $34,000. Finally, Commonwealth Bank of Australia lifted its holdings in shares of Diamondback Energy by 81.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 152 shares in the last quarter. 99.30% of the stock is owned by institutional investors.

NASDAQ FANG traded up $1.25 during mid-day trading on Wednesday, reaching $100.71. 4,454 shares of the company’s stock traded hands, compared to its average volume of 1,431,815. Diamondback Energy Inc has a 1-year low of $85.19 and a 1-year high of $140.78. The company has a fifty day simple moving average of $97.69 and a 200-day simple moving average of $102.61. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. The company has a market cap of $16.22 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 0.47 and a beta of 0.83.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.04). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The business’s revenue for the quarter was up 93.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.59 earnings per share. Equities research analysts forecast that Diamondback Energy Inc will post 7.21 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.188 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.75%. Diamondback Energy’s dividend payout ratio (DPR) is presently 12.78%.

In other news, CEO Travis D. Stice acquired 4,186 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $95.55 per share, with a total value of $399,972.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $107.47, for a total value of $161,205.00. Following the completion of the sale, the chief financial officer now directly owns 27,465 shares of the company’s stock, valued at $2,951,663.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,500 shares of company stock valued at $1,199,165. Insiders own 0.47% of the company’s stock.

Several analysts recently issued reports on the company. MKM Partners began coverage on Diamondback Energy in a report on Friday, June 28th. They issued a “buy” rating for the company. Bank of America boosted their price objective on Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. TD Securities downgraded Diamondback Energy from an “action list buy” rating to a “buy” rating and set a $155.00 target price for the company. in a research report on Friday, September 6th. Williams Capital reiterated a “buy” rating and issued a $165.00 target price on shares of Diamondback Energy in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $156.00 target price on shares of Diamondback Energy in a research note on Sunday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $152.95.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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