Hobbs Group Advisors LLC Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Hobbs Group Advisors LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 327 shares of the oil and natural gas company’s stock, valued at approximately $65,000.

Other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its holdings in shares of Diamondback Energy by 128.7% in the fourth quarter. Avior Wealth Management LLC now owns 1,912 shares of the oil and natural gas company’s stock valued at $297,000 after purchasing an additional 1,076 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Diamondback Energy by 61.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 36,780 shares of the oil and natural gas company’s stock worth $5,703,000 after acquiring an additional 13,996 shares in the last quarter. Xponance Inc. boosted its position in Diamondback Energy by 1.1% during the 4th quarter. Xponance Inc. now owns 22,060 shares of the oil and natural gas company’s stock worth $3,421,000 after acquiring an additional 241 shares during the period. Greenleaf Trust boosted its position in Diamondback Energy by 3.6% during the 4th quarter. Greenleaf Trust now owns 6,848 shares of the oil and natural gas company’s stock worth $1,062,000 after acquiring an additional 236 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in Diamondback Energy during the 4th quarter valued at about $122,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG stock traded down $6.09 during trading hours on Tuesday, hitting $189.75. The company had a trading volume of 1,105,884 shares, compared to its average volume of 1,557,987. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. The firm has a market capitalization of $33.84 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 1.06 and a beta of 1.90. Diamondback Energy, Inc. has a 12 month low of $143.08 and a 12 month high of $214.50. The firm’s fifty day moving average is $198.60 and its 200 day moving average is $193.43.

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 for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business’s revenue was up 29.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.68 earnings per share. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 18.63 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a None dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th will be paid a $2.34 dividend. The ex-dividend date is Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Insider Activity at Diamondback Energy

In related news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total value of $1,182,840.00. Following the completion of the sale, the chief operating officer now owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on FANG. Stifel Nicolaus boosted their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Benchmark reaffirmed a “buy” rating and issued a $154.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 6th. Susquehanna lifted their price objective on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Mizuho boosted their target price on Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Wells Fargo & Company cut their price target on Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $211.85.

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.