L & S Advisors Inc Has $5.78 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

L & S Advisors Inc lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 50.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,888 shares of the oil and natural gas company’s stock after selling 29,893 shares during the period. L & S Advisors Inc’s holdings in Diamondback Energy were worth $5,783,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Founders Capital Management boosted its position in shares of Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after buying an additional 101 shares during the period. First Community Trust NA acquired a new position in Diamondback Energy during the 2nd quarter worth approximately $26,000. Logan Capital Management Inc. bought a new position in shares of Diamondback Energy during the 4th quarter worth approximately $31,000. HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the second quarter valued at approximately $40,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on FANG shares. Jefferies Financial Group started coverage on shares of Diamondback Energy in a research report on Monday. They issued a “hold” rating and a $185.00 target price for the company. Morgan Stanley lifted their target price on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial increased their price target on Diamondback Energy from $249.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Wolfe Research began coverage on Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Susquehanna dropped their price objective on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.86.

Diamondback Energy Stock Up 1.4 %

FANG stock opened at $174.81 on Tuesday. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a market capitalization of $31.18 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.06 and a beta of 1.89. The business’s fifty day moving average price is $194.20 and its two-hundred day moving average price is $195.81.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the firm posted $3.68 EPS. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 19.08 earnings per share 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 issued a $2.34 dividend. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s dividend payout ratio (DPR) 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.