Ground Swell Capital LLC Purchases New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Ground Swell Capital LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,708 shares of the oil and natural gas company’s stock, valued at approximately $342,000.

Several other institutional investors have also added to or reduced their stakes in FANG. 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 valued at $25,000 after buying an additional 101 shares during the last quarter. First Community Trust NA purchased a new stake in shares of Diamondback Energy during the 2nd quarter valued at about $26,000. Logan Capital Management Inc. bought a new stake in shares of Diamondback Energy in the fourth quarter worth approximately $31,000. HHM Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the second quarter valued at approximately $40,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Diamondback Energy during the fourth quarter valued at approximately $54,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 4.3 %

Shares of FANG opened at $171.49 on Wednesday. The business’s 50 day moving average is $196.88 and its 200 day moving average is $196.03. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50. The company has a market capitalization of $30.59 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 1.13 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last released 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 the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the business posted $3.68 earnings per share. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. Research analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a $2.34 dividend. This represents a dividend yield of 1.9%. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s payout ratio is 20.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Diamondback Energy in a research report on Tuesday, August 13th. Wells Fargo & Company reduced their price objective on Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Bank of America raised their target price on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Scotiabank reduced their price target on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, StockNews.com downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

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.