Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Strategy Asset Managers LLC

Strategy Asset Managers LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 27.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,112 shares of the oil and natural gas company’s stock after selling 1,543 shares during the quarter. Strategy Asset Managers LLC’s holdings in Diamondback Energy were worth $709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Community Trust NA purchased a new stake in shares of Diamondback Energy in the second quarter valued at $26,000. Carolinas Wealth Consulting LLC boosted its stake in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in Diamondback Energy in the 2nd quarter valued at about $40,000. Values First Advisors Inc. acquired a new position in shares of Diamondback Energy during the 3rd quarter valued at about $42,000. Finally, Founders Capital Management increased its stake in shares of Diamondback Energy by 99.2% during the 2nd 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 last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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 dated 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 transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the 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 sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Price Performance

FANG stock opened at $181.46 on Thursday. The stock’s 50 day moving average is $181.65 and its two-hundred day moving average is $191.00. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The company has a market capitalization of $52.98 billion, a PE ratio of 10.39, a P/E/G ratio of 1.26 and a beta of 1.89. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned $5.49 earnings per share. Analysts predict that Diamondback Energy, Inc. will post 16.78 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Analyst Ratings Changes

Several brokerages recently commented on FANG. Morgan Stanley upped their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group started coverage on Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 price objective for the company. Susquehanna dropped their price target 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. Scotiabank cut their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Citigroup started coverage on Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $212.00.

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.