Axecap Investments LLC Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Axecap Investments LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,769 shares of the oil and natural gas company’s stock, valued at approximately $995,000.

A number of other hedge funds have also bought and sold shares of FANG. Park Avenue Securities LLC raised its stake in Diamondback Energy by 6.8% during the first quarter. Park Avenue Securities LLC now owns 4,236 shares of the oil and natural gas company’s stock worth $839,000 after buying an additional 269 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of Diamondback Energy during the first quarter worth about $292,000. Future Financial Wealth Managment LLC bought a new stake in shares of Diamondback Energy during the first quarter worth about $99,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Diamondback Energy during the first quarter worth about $233,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Diamondback Energy by 9.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,980 shares of the oil and natural gas company’s stock worth $2,176,000 after acquiring an additional 967 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $181.12 on Thursday. The firm has a market cap of $32.30 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $185.42 and its two-hundred day simple moving average is $194.34.

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 analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company’s revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.68 EPS. As a group, equities analysts expect that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FANG. Morgan Stanley upped their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Sanford C. Bernstein dropped their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Benchmark increased their target price on shares of Diamondback Energy from $154.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Bank of America increased their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company reiterated a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.09.

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.