Diversified Trust Co Raises Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Diversified Trust Co lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 32,348 shares of the oil and natural gas company’s stock after acquiring an additional 513 shares during the period. Diversified Trust Co’s holdings in Diamondback Energy were worth $5,300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of FANG. Carolinas Wealth Consulting LLC increased its position in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Financial Advocates Investment Management grew its stake in Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after purchasing an additional 55 shares in the last quarter. Brighton Jones LLC increased its holdings in Diamondback Energy by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company’s stock worth $1,566,000 after purchasing an additional 60 shares during the period. Greenup Street Wealth Management LLC raised its position in Diamondback Energy by 3.4% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock valued at $313,000 after purchasing an additional 60 shares in the last quarter. Finally, West Family Investments Inc. boosted its stake in shares of Diamondback Energy by 3.4% in the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after buying an additional 61 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Diamondback Energy stock traded up $1.99 during trading hours on Tuesday, reaching $171.63. 466,576 shares of the stock were exchanged, compared to its average volume of 1,570,055. Diamondback Energy, Inc. has a 52-week low of $147.93 and a 52-week high of $214.50. The stock has a market cap of $50.11 billion, a P/E ratio of 9.82, a P/E/G ratio of 1.21 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm’s 50 day moving average is $171.08 and its 200 day moving average is $184.43.

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). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the company earned $5.49 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts predict that Diamondback Energy, Inc. will post 16.28 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FANG shares. Mizuho reduced their target price on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. UBS Group reduced their price objective on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Johnson Rice lowered Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a report on Friday. Finally, The Goldman Sachs Group initiated coverage on Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.83.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

About Diamondback Energy

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.