D.A. Davidson & CO. Has $2.45 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

D.A. Davidson & CO. boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,185 shares of the oil and natural gas company’s stock after purchasing an additional 1,092 shares during the quarter. D.A. Davidson & CO.’s holdings in Diamondback Energy were worth $2,446,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FANG. The Manufacturers Life Insurance Company raised its holdings in shares of Diamondback Energy by 17.5% during the third quarter. The Manufacturers Life Insurance Company now owns 171,737 shares of the oil and natural gas company’s stock valued at $29,607,000 after acquiring an additional 25,603 shares during the period. Hancock Whitney Corp grew its position in Diamondback Energy by 1.5% during the 3rd quarter. Hancock Whitney Corp now owns 6,505 shares of the oil and natural gas company’s stock worth $1,121,000 after purchasing an additional 98 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in Diamondback Energy by 27.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 443 shares of the oil and natural gas company’s stock valued at $76,000 after purchasing an additional 96 shares during the period. Boston Family Office LLC boosted its position in shares of Diamondback Energy by 11.5% in the third quarter. Boston Family Office LLC now owns 6,690 shares of the oil and natural gas company’s stock worth $1,153,000 after buying an additional 690 shares during the period. Finally, DRW Securities LLC purchased a new position in shares of Diamondback Energy during the third quarter valued at $201,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 92.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Diamondback Energy Trading Up 0.8 %

Diamondback Energy stock opened at $177.59 on Friday. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market capitalization of $51.85 billion, a PE ratio of 10.17, a PEG ratio of 1.30 and a beta of 1.89. The business’s 50-day simple moving average is $181.95 and its 200-day simple moving average is $189.92.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.49 earnings per share. Equities research analysts forecast that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.03%. Diamondback Energy’s payout ratio is 20.61%.

Analyst Ratings Changes

FANG has been the subject of several research analyst reports. Susquehanna reduced their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company reiterated a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Benchmark reaffirmed a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.00.

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.