STF Management LP Sells 133 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

STF Management LP lowered its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,878 shares of the oil and natural gas company’s stock after selling 133 shares during the period. STF Management LP’s holdings in Diamondback Energy were worth $576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its stake in Diamondback Energy by 19.7% in the fourth quarter. QRG Capital Management Inc. now owns 2,085 shares of the oil and natural gas company’s stock valued at $323,000 after acquiring an additional 343 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Diamondback Energy by 16.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,710 shares of the oil and natural gas company’s stock valued at $1,041,000 after acquiring an additional 941 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in Diamondback Energy by 3.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,004 shares of the oil and natural gas company’s stock valued at $776,000 after acquiring an additional 169 shares during the last quarter. Beacon Pointe Advisors LLC lifted its stake in Diamondback Energy by 18.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 7,021 shares of the oil and natural gas company’s stock valued at $1,089,000 after acquiring an additional 1,097 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in Diamondback Energy by 25.5% in the fourth quarter. Panagora Asset Management Inc. now owns 11,638 shares of the oil and natural gas company’s stock valued at $1,805,000 after acquiring an additional 2,362 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $174.81 on Tuesday. Diamondback Energy, Inc. has a 52 week low of $143.08 and a 52 week high of $214.50. The firm has a market cap of $31.18 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 1.06 and a beta of 1.89. The firm’s 50-day simple moving average is $194.20 and its 200 day simple moving average is $195.81. 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 (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping 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 business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the firm earned $3.68 earnings per share. Diamondback Energy’s revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, sell-side analysts predict 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 was Thursday, August 15th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

Analyst Ratings Changes

A number of brokerages have commented on FANG. Susquehanna cut their price target on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Morgan Stanley increased their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company cut their target price on shares of Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Piper Sandler cut their target price on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, Scotiabank cut their target price on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.86.

Diamondback Energy Company 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.