Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,159 shares of the oil and natural gas company’s stock after selling 111 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Diamondback Energy were worth $372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quent Capital LLC increased its holdings in shares of Diamondback Energy by 7.2% in the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after acquiring an additional 54 shares during the last quarter. Carolinas Wealth Consulting LLC raised its stake in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Sugarloaf Wealth Management LLC grew its position in Diamondback Energy by 0.3% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock valued at $3,999,000 after buying an additional 56 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Diamondback Energy by 16.1% in the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after buying an additional 57 shares during the period. Finally, Confluence Investment Management LLC boosted its holdings in Diamondback Energy by 1.6% during the second quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock worth $734,000 after buying an additional 58 shares in the last quarter. 90.01% of the stock is currently 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 company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FANG shares. KeyCorp started coverage on shares of Diamondback Energy in a research report on Thursday, June 27th. They issued an “overweight” rating and a $225.00 price objective on the stock. UBS Group dropped their price objective on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. 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 research note on Tuesday, July 23rd. Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Finally, Sanford C. Bernstein cut their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. One 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’s stock. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $208.59.

Diamondback Energy Trading Up 0.5 %

NASDAQ FANG traded up $0.90 during mid-day trading on Friday, hitting $194.96. The company’s stock had a trading volume of 1,366,821 shares, compared to its average volume of 1,732,025. The firm has a market capitalization of $34.77 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The stock’s fifty day simple moving average is $187.20 and its two-hundred day simple moving average is $195.26.

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

Diamondback Energy Increases Dividend

The business also recently announced a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $2.34 dividend. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 1.9%. 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%.

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.