Advisors Asset Management Inc. Has $5.18 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Advisors Asset Management Inc. grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,071 shares of the oil and natural gas company’s stock after acquiring an additional 2,152 shares during the period. Advisors Asset Management Inc.’s holdings in Diamondback Energy were worth $5,184,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FANG. O Shaughnessy Asset Management LLC lifted its position in Diamondback Energy by 27.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 11,266 shares of the oil and natural gas company’s stock worth $2,233,000 after acquiring an additional 2,432 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Diamondback Energy during the first quarter worth approximately $971,000. Natixis acquired a new stake in Diamondback Energy during the first quarter worth approximately $195,000. CreativeOne Wealth LLC lifted its position in Diamondback Energy by 110.0% during the first quarter. CreativeOne Wealth LLC now owns 5,060 shares of the oil and natural gas company’s stock worth $1,003,000 after acquiring an additional 2,650 shares during the last quarter. Finally, Axxcess Wealth Management LLC bought a new position in shares of Diamondback Energy during the first quarter worth approximately $219,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on FANG. JPMorgan Chase & Co. began coverage on shares of Diamondback Energy in a report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. Evercore ISI lowered their target price on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $182.92 on Friday. The firm’s fifty day moving average price is $181.89 and its two-hundred day moving average price is $190.94. The stock has a market cap of $53.41 billion, a PE ratio of 10.47, a PEG ratio of 1.32 and a beta of 1.89. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two 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.

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%. Diamondback Energy’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $5.49 EPS. On average, equities analysts expect that Diamondback Energy, Inc. will post 16.37 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared 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 was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.97%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction 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 transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on 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 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 owned by company insiders.

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.