Parallel Advisors LLC Buys 755 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Parallel Advisors LLC increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,919 shares of the oil and natural gas company’s stock after acquiring an additional 755 shares during the quarter. Parallel Advisors LLC’s holdings in Diamondback Energy were worth $2,786,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in shares of Diamondback Energy by 14.1% during the fourth quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock worth $7,852,000 after acquiring an additional 6,240 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Diamondback Energy by 178.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock valued at $6,112,000 after purchasing an additional 19,552 shares during the period. TFO Wealth Partners LLC grew its holdings in Diamondback Energy by 78,990.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,909 shares of the oil and natural gas company’s stock valued at $1,227,000 after buying an additional 7,899 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in Diamondback Energy by 92.8% in the 4th quarter. Integrated Advisors Network LLC now owns 13,031 shares of the oil and natural gas company’s stock valued at $2,021,000 after buying an additional 6,272 shares in the last quarter. Finally, Kapitalo Investimentos Ltda increased its position in Diamondback Energy by 1,842.5% during the 4th quarter. Kapitalo Investimentos Ltda now owns 4,390 shares of the oil and natural gas company’s stock worth $681,000 after buying an additional 4,164 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FANG shares. UBS Group boosted their target price on shares of Diamondback Energy from $245.00 to $247.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Piper Sandler decreased their target price on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Wolfe Research assumed coverage on shares of Diamondback Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. StockNews.com cut Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. Finally, Wells Fargo & Company lowered their price objective on Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Diamondback Energy Trading Up 0.9 %

Shares of Diamondback Energy stock opened at $172.42 on Friday. The firm has a market capitalization of $30.76 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The firm’s 50 day moving average is $194.77 and its 200 day moving average is $195.75. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the business earned $3.68 earnings per share. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. Equities research analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a dividend of $2.34 per share. This represents a dividend yield of 1.9%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s dividend payout ratio (DPR) is presently 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.