Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Comprehensive Financial Consultants Institutional Inc.

Comprehensive Financial Consultants Institutional Inc. decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,746 shares of the oil and natural gas company’s stock after selling 101 shares during the quarter. Comprehensive Financial Consultants Institutional Inc.’s holdings in Diamondback Energy were worth $2,025,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FANG. AIA Group Ltd raised its holdings in Diamondback Energy by 7.7% during the 3rd quarter. AIA Group Ltd now owns 8,400 shares of the oil and natural gas company’s stock worth $1,448,000 after buying an additional 600 shares during the period. Summit Global Investments acquired a new stake in shares of Diamondback Energy during the third quarter valued at approximately $202,000. Confluence Investment Management LLC lifted its position in shares of Diamondback Energy by 5.5% in the 3rd quarter. Confluence Investment Management LLC now owns 3,867 shares of the oil and natural gas company’s stock valued at $667,000 after acquiring an additional 200 shares in the last quarter. Portside Wealth Group LLC lifted its position in shares of Diamondback Energy by 6.3% in the 3rd quarter. Portside Wealth Group LLC now owns 2,571 shares of the oil and natural gas company’s stock valued at $443,000 after acquiring an additional 153 shares in the last quarter. Finally, Olympiad Research LP boosted its stake in Diamondback Energy by 32.9% in the 3rd quarter. Olympiad Research LP now owns 3,201 shares of the oil and natural gas company’s stock worth $552,000 after purchasing an additional 792 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. KeyCorp cut their target price on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. StockNews.com downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Tuesday. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Evercore ISI dropped their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Finally, Susquehanna decreased their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $209.64.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Down 1.1 %

FANG opened at $181.59 on Friday. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The business has a 50 day moving average price of $182.34 and a 200 day moving average price of $192.55. The firm has a market cap of $53.52 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 1.26 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 17.64% and a net margin of 33.64%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm posted $5.49 earnings per share. Diamondback Energy’s quarterly revenue was up 13.0% compared to the same quarter last year. Research analysts forecast that Diamondback Energy, Inc. will post 17.1 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

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.