Dorsey & Whitney Trust CO LLC Acquires Shares of 1,178 Diamondback Energy, Inc. (NASDAQ:FANG)

Dorsey & Whitney Trust CO LLC bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,178 shares of the oil and natural gas company’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FANG. LGT Fund Management Co Ltd. boosted its holdings in Diamondback Energy by 96.0% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 2,156 shares of the oil and natural gas company’s stock valued at $432,000 after purchasing an additional 1,056 shares in the last quarter. Choreo LLC acquired a new position in Diamondback Energy during the second quarter worth $1,264,000. Ashton Thomas Private Wealth LLC raised its position in Diamondback Energy by 89.9% in the second quarter. Ashton Thomas Private Wealth LLC now owns 11,586 shares of the oil and natural gas company’s stock worth $2,319,000 after acquiring an additional 5,486 shares in the last quarter. Invera Wealth Advisors LLC lifted its holdings in Diamondback Energy by 8.0% in the second quarter. Invera Wealth Advisors LLC now owns 8,790 shares of the oil and natural gas company’s stock valued at $1,817,000 after acquiring an additional 649 shares during the period. Finally, Quest Partners LLC boosted its position in shares of Diamondback Energy by 252,400.0% during the 2nd quarter. Quest Partners LLC now owns 5,050 shares of the oil and natural gas company’s stock worth $1,011,000 after purchasing an additional 5,048 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FANG. Sanford C. Bernstein reduced their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. KeyCorp started coverage on Diamondback Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $225.00 price target on the stock. Wells Fargo & Company dropped their price objective 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. UBS Group boosted their target price on Diamondback Energy from $245.00 to $247.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Bank of America upped their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

Diamondback Energy Trading Up 1.4 %

Shares of FANG opened at $170.86 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The company has a market capitalization of $30.47 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 1.13 and a beta of 1.89. The stock has a fifty day moving average of $195.39 and a two-hundred day moving average of $195.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the business posted $3.68 earnings per share. The firm’s revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, analysts forecast that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

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