Diamondback Energy, Inc. (NASDAQ:FANG) Stake Increased by Pacer Advisors Inc.

Pacer Advisors Inc. increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,960,824 shares of the oil and natural gas company’s stock after buying an additional 99,157 shares during the quarter. Diamondback Energy accounts for approximately 1.0% of Pacer Advisors Inc.’s holdings, making the stock its 25th biggest position. Pacer Advisors Inc. owned approximately 1.08% of Diamondback Energy worth $257,574,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FANG. State Street Corp boosted its position in Diamondback Energy by 1.0% during the first quarter. State Street Corp now owns 11,656,848 shares of the oil and natural gas company’s stock valued at $1,575,653,000 after purchasing an additional 112,297 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Diamondback Energy by 149.7% during the first quarter. Wellington Management Group LLP now owns 11,257,540 shares of the oil and natural gas company’s stock valued at $1,521,682,000 after acquiring an additional 6,748,670 shares during the period. Geode Capital Management LLC increased its stake in shares of Diamondback Energy by 4.8% in the first quarter. Geode Capital Management LLC now owns 3,919,925 shares of the oil and natural gas company’s stock worth $528,736,000 after purchasing an additional 179,405 shares during the period. Morgan Stanley lifted its position in shares of Diamondback Energy by 2.5% during the 4th quarter. Morgan Stanley now owns 3,572,083 shares of the oil and natural gas company’s stock worth $488,590,000 after purchasing an additional 85,618 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Diamondback Energy by 20.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,056,732 shares of the oil and natural gas company’s stock valued at $277,983,000 after purchasing an additional 347,833 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 0.4 %

FANG traded down $0.56 during trading on Tuesday, reaching $155.70. The company had a trading volume of 365,051 shares, compared to its average volume of 2,073,177. The business’s fifty day moving average price is $147.77 and its 200 day moving average price is $138.52. Diamondback Energy, Inc. has a 12 month low of $110.97 and a 12 month high of $168.95. The company has a market cap of $27.84 billion, a P/E ratio of 8.11, a PEG ratio of 0.41 and a beta of 2.04. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.43 and a quick ratio of 0.40.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, July 31st. The oil and natural gas company reported $3.68 EPS for the quarter, missing the consensus estimate of $3.92 by ($0.24). The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.90 billion. Diamondback Energy had a net margin of 41.62% and a return on equity of 22.43%. The company’s quarterly revenue was down 30.7% compared to the same quarter last year. During the same period in the previous year, the company posted $7.07 EPS. Equities analysts anticipate that Diamondback Energy, Inc. will post 17.48 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Thursday, August 10th were paid a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 2.16%. Diamondback Energy’s dividend payout ratio (DPR) is 17.44%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Mizuho upped their price objective on shares of Diamondback Energy from $191.00 to $197.00 and gave the company a “buy” rating in a research report on Monday. Raymond James lifted their target price on shares of Diamondback Energy from $173.00 to $191.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 14th. Morgan Stanley increased their price target on shares of Diamondback Energy from $154.00 to $163.00 and gave the stock an “overweight” rating in a research report on Friday, August 18th. StockNews.com began coverage on Diamondback Energy in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus increased their target price on Diamondback Energy from $178.00 to $179.00 and gave the stock a “buy” rating in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $177.65.

Insider Activity

In related news, Director Steven E. West sold 8,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $150.65, for a total value of $1,205,200.00. Following the transaction, the director now directly owns 5,100 shares of the company’s stock, valued at $768,315. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Hof Matthew Kaes Van’t sold 9,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $148.98, for a total transaction of $1,340,820.00. Following the transaction, the chief financial officer now directly owns 155,980 shares of the company’s stock, valued at $23,237,900.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven E. West sold 8,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $150.65, for a total transaction of $1,205,200.00. Following the completion of the transaction, the director now owns 5,100 shares of the company’s stock, valued at $768,315. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,518 shares of company stock worth $5,695,092. Corporate insiders own 0.43% of the company’s stock.

About Diamondback Energy

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 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.