Phillips Wealth Planners LLC Has $221,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Phillips Wealth Planners LLC cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 19.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,263 shares of the oil and natural gas company’s stock after selling 310 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Diamondback Energy were worth $221,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FANG. Assenagon Asset Management S.A. increased its holdings in Diamondback Energy by 1,153.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after purchasing an additional 1,042,505 shares during the period. Zimmer Partners LP acquired a new stake in Diamondback Energy in the third quarter valued at $87,924,000. Holocene Advisors LP increased its holdings in Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after purchasing an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after acquiring an additional 439,579 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Diamondback Energy by 17,151.2% during the 3rd quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock worth $58,620,000 after acquiring an additional 338,050 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 0.4 %

Shares of NASDAQ:FANG opened at $177.59 on Thursday. The firm has a fifty day moving average price of $170.56 and a two-hundred day moving average price of $182.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a one year low of $147.93 and a one year high of $214.50. The company has a market cap of $51.85 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.48 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the business earned $5.49 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts anticipate that Diamondback Energy, Inc. will post 15.59 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Scotiabank decreased their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $205.00 to $215.00 in a report on Friday, October 4th. KeyCorp decreased their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Finally, Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $214.17.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by insiders.

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.