Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Centiva Capital LP

Centiva Capital LP reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 58.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,806 shares of the oil and natural gas company’s stock after selling 13,775 shares during the period. Centiva Capital LP’s holdings in Diamondback Energy were worth $1,691,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Chevy Chase Trust Holdings LLC raised its stake in Diamondback Energy by 3.1% during the third quarter. Chevy Chase Trust Holdings LLC now owns 100,726 shares of the oil and natural gas company’s stock valued at $17,365,000 after buying an additional 3,054 shares in the last quarter. Concentric Capital Strategies LP acquired a new stake in shares of Diamondback Energy during the 3rd quarter valued at approximately $4,939,000. Benjamin Edwards Inc. lifted its position in shares of Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after buying an additional 7,694 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at about $19,163,000. Finally, B&L Asset Management LLC bought a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $2,520,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Down 0.0 %

NASDAQ:FANG opened at $175.76 on Wednesday. The stock has a market cap of $51.32 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 1.30 and a beta of 1.88. 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 current ratio of 0.45 and a quick ratio of 0.42. The stock’s 50-day moving average is $181.57 and its two-hundred day moving average is $189.53.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share 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 firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.49 EPS. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.05%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FANG. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Johnson Rice lowered Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Wednesday, November 6th. KeyCorp dropped their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Scotiabank reduced their target price on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.65.

Insiders Place Their Bets

In related 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 transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the 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. Insiders own 0.48% of the company’s stock.

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.