Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Boosted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,282,557 shares of the oil and natural gas company’s stock after acquiring an additional 87,288 shares during the period. Dimensional Fund Advisors LP’s holdings in Diamondback Energy were worth $456,930,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Founders Capital Management grew its holdings in shares of Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after acquiring an additional 101 shares in the last quarter. First Community Trust NA purchased a new position in shares of Diamondback Energy during the 2nd quarter valued at $26,000. Logan Capital Management Inc. purchased a new position in shares of Diamondback Energy during the 4th quarter valued at $31,000. HHM Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the 2nd quarter valued at $40,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Diamondback Energy during the 4th quarter valued at $54,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FANG has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on shares of Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. 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. Benchmark reiterated a “buy” rating and issued a $154.00 price objective on shares of Diamondback Energy in a report on Tuesday, August 6th. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a report on Monday. They issued a “hold” rating and a $185.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.86.

Diamondback Energy Stock Up 1.4 %

Shares of FANG opened at $174.81 on Tuesday. The company has a 50-day simple moving average of $194.20 and a 200-day simple moving average of $195.81. The firm has a market capitalization of $31.18 billion, a P/E ratio of 9.85, a P/E/G ratio of 1.06 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 data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion during 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 for the quarter was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.68 earnings per share. On average, equities research analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a dividend of $2.34 per share. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 1.9%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is currently 20.29%.

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.