SRB Corp Acquires New Shares in Diamondback Energy Inc (NASDAQ:FANG)

Share on StockTwits

SRB Corp acquired a new stake in Diamondback Energy Inc (NASDAQ:FANG) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,610 shares of the oil and natural gas company’s stock, valued at approximately $503,000.

A number of other large investors have also added to or reduced their stakes in FANG. Archford Capital Strategies LLC boosted its stake in Diamondback Energy by 1,100.0% in the second quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after buying an additional 220 shares in the last quarter. Berman Capital Advisors LLC raised its position in Diamondback Energy by 180.8% in the first quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 188 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Diamondback Energy in the second quarter valued at about $32,000. Manchester Capital Management LLC bought a new position in Diamondback Energy in the first quarter valued at about $34,000. Finally, Commonwealth Bank of Australia raised its position in Diamondback Energy by 81.7% in the second quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 152 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

In other Diamondback Energy news, CEO Travis D. Stice bought 4,186 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $95.55 per share, with a total value of $399,972.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Russell Pantermuehl sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $100.25, for a total value of $501,250.00. Following the sale, the vice president now directly owns 105,107 shares of the company’s stock, valued at approximately $10,536,976.75. The disclosure for this sale can be found here. Insiders have sold 16,500 shares of company stock valued at $1,700,415 in the last ninety days. 0.47% of the stock is currently owned by insiders.

Several equities analysts have commented on the company. 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. ValuEngine downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. Northland Securities reiterated a “buy” rating and issued a $150.00 target price on shares of Diamondback Energy in a research report on Wednesday, August 7th. Oppenheimer dropped their target price on Diamondback Energy from $151.00 to $138.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $156.00 target price on shares of Diamondback Energy in a research report on Sunday, August 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $152.95.

Shares of FANG traded down $0.65 during mid-day trading on Tuesday, reaching $104.39. 109,380 shares of the company were exchanged, compared to its average volume of 1,449,552. Diamondback Energy Inc has a 52 week low of $85.19 and a 52 week high of $140.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.79 and a current ratio of 0.82. The stock has a market capitalization of $15.77 billion, a PE ratio of 17.50, a PEG ratio of 0.47 and a beta of 0.83. The business has a 50 day simple moving average of $97.25 and a two-hundred day simple moving average of $102.46.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data 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). Diamondback Energy had a return on equity of 6.50% and a net margin of 26.92%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business earned $1.59 earnings per share. Diamondback Energy’s revenue was up 93.7% compared to the same quarter last year. On average, analysts predict that Diamondback Energy Inc will post 7.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a dividend of $0.188 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.75 annualized dividend and a yield of 0.72%. Diamondback Energy’s dividend payout ratio is currently 12.78%.

Diamondback Energy Company 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.

See Also: What is the definition of market timing?

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

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.