Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,801 shares of the oil and natural gas company’s stock after selling 1,856 shares during the period. Asset Management One Co. Ltd.’s holdings in Diamondback Energy were worth $11,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. First Community Trust NA purchased a new position in shares of Diamondback Energy during the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC grew its holdings in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the period. HHM Wealth Advisors LLC purchased a new position in Diamondback Energy during the second quarter valued at approximately $40,000. Values First Advisors Inc. acquired a new position in Diamondback Energy in the third quarter valued at approximately $42,000. Finally, Founders Capital Management lifted its holdings in Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 125 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

FANG stock opened at $183.62 on Thursday. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The firm has a market capitalization of $54.12 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89. The business has a 50 day simple moving average of $182.34 and a 200-day simple moving average of $192.55.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business earned $5.49 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. Equities research analysts anticipate that Diamondback Energy, Inc. will post 17.1 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 18.60%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FANG. Wolfe Research initiated coverage on shares of Diamondback Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 price target on the stock. Citigroup initiated coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective for the company. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Finally, BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $209.64.

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is currently owned by company insiders.

About Diamondback Energy

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.