Quadrature Capital Ltd lifted its stake in Diamondback Energy Inc (NASDAQ:FANG) by 84.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,367 shares of the oil and natural gas company’s stock after purchasing an additional 17,071 shares during the quarter. Quadrature Capital Ltd’s holdings in Diamondback Energy were worth $1,563,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Rockbridge Investment Management LCC acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $30,000. Cerebellum GP LLC acquired a new stake in Diamondback Energy during the 2nd quarter worth about $34,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Diamondback Energy during the 1st quarter worth about $35,000. Atlas Capital Advisors LLC boosted its position in Diamondback Energy by 53.1% during the 1st quarter. Atlas Capital Advisors LLC now owns 1,797 shares of the oil and natural gas company’s stock worth $47,000 after acquiring an additional 623 shares during the period. Finally, Larson Financial Group LLC boosted its position in Diamondback Energy by 447.2% during the 2nd quarter. Larson Financial Group LLC now owns 1,773 shares of the oil and natural gas company’s stock worth $74,000 after acquiring an additional 1,449 shares during the period. Institutional investors and hedge funds own 92.56% of the company’s stock.
In other news, CFO Hof Matthew Kaes Van’t acquired 1,800 shares of the firm’s stock in a transaction dated Friday, June 19th. The shares were bought at an average price of $46.92 per share, with a total value of $84,456.00. Following the acquisition, the chief financial officer now owns 53,930 shares of the company’s stock, valued at $2,530,395.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by company insiders.
FANG has been the subject of a number of research reports. Royal Bank of Canada restated a “buy” rating on shares of Diamondback Energy in a research report on Monday, July 20th. TD Securities decreased their price objective on Diamondback Energy from $61.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. KeyCorp decreased their price objective on Diamondback Energy from $77.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Raymond James decreased their price objective on Diamondback Energy from $50.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, July 20th. Finally, Goldman Sachs Group downgraded Diamondback Energy from a “buy” rating to a “neutral” rating and raised their price target for the stock from $49.50 to $50.50 in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $63.78.
FANG traded down $0.24 during midday trading on Friday, reaching $35.53. The company’s stock had a trading volume of 2,883,673 shares, compared to its average volume of 2,038,197. The stock has a market cap of $5.61 billion, a P/E ratio of -2.01, a PEG ratio of 0.61 and a beta of 2.19. The company has a fifty day simple moving average of $40.96 and a 200 day simple moving average of $41.76. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 0.50. Diamondback Energy Inc has a twelve month low of $14.55 and a twelve month high of $105.95.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 3rd. The oil and natural gas company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.12. The firm had revenue of $425.00 million for the quarter, compared to analyst estimates of $586.01 million. Diamondback Energy had a positive return on equity of 5.66% and a negative net margin of 81.81%. The company’s revenue was down 58.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 EPS. Sell-side analysts expect that Diamondback Energy Inc will post 2.65 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Wednesday, August 12th. Diamondback Energy’s payout ratio is presently 21.65%.
Diamondback Energy Profile
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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