Diamondback Energy, Inc. (NASDAQ:FANG) Stake Lessened by Diversified Trust Co

Diversified Trust Co cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,828 shares of the oil and natural gas company’s stock after selling 2,711 shares during the period. Diversified Trust Co’s holdings in Diamondback Energy were worth $6,307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FANG. Wellington Management Group LLP boosted its holdings in shares of Diamondback Energy by 4.8% in the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after acquiring an additional 648,317 shares in the last quarter. Raymond James & Associates lifted its stake in Diamondback Energy by 143.0% during the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after purchasing an additional 577,514 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Diamondback Energy by 286.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock valued at $92,380,000 after purchasing an additional 441,411 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in Diamondback Energy by 1,748.1% during the third quarter. iA Global Asset Management Inc. now owns 281,256 shares of the oil and natural gas company’s stock valued at $43,561,000 after purchasing an additional 266,037 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Diamondback Energy by 16,215.2% during the fourth quarter. International Assets Investment Management LLC now owns 266,264 shares of the oil and natural gas company’s stock valued at $41,292,000 after purchasing an additional 264,632 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total value of $1,182,840.00. Following the completion of the sale, the chief operating officer now owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders sold a total of 36,900 shares of company stock valued at $7,362,750 over the last ninety days. Insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG stock traded up $1.82 during trading hours on Monday, reaching $202.01. 288,489 shares of the company were exchanged, compared to its average volume of 1,633,029. Diamondback Energy, Inc. has a fifty-two week low of $125.73 and a fifty-two week high of $211.96. The stock’s fifty day moving average is $196.76 and its two-hundred day moving average is $181.73. The company has a market cap of $36.03 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 1.09 and a beta of 1.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the business earned $4.10 earnings per share. Diamondback Energy’s quarterly revenue was up 15.7% on a year-over-year basis. Sell-side analysts forecast that Diamondback Energy, Inc. will post 19.06 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Analysts Set New Price Targets

A number of research firms recently commented on FANG. Sanford C. Bernstein began coverage on shares of Diamondback Energy in a research note on Thursday, June 6th. They issued an “outperform” rating and a $243.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Mizuho raised their price objective on shares of Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Stifel Nicolaus raised their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $154.00 price objective on shares of Diamondback Energy in a research note on Thursday, June 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $209.35.

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.