Crossmark Global Holdings Inc. Cuts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Crossmark Global Holdings Inc. lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,920 shares of the oil and natural gas company’s stock after selling 389 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Diamondback Energy were worth $1,185,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FANG. Center For Asset Management LLC boosted its stake in shares of Diamondback Energy by 3.3% during the 2nd quarter. Center For Asset Management LLC now owns 1,859 shares of the oil and natural gas company’s stock worth $372,000 after purchasing an additional 60 shares during the period. F M Investments LLC boosted its position in Diamondback Energy by 128.4% in the 2nd quarter. F M Investments LLC now owns 20,351 shares of the oil and natural gas company’s stock valued at $4,082,000 after buying an additional 11,440 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Diamondback Energy by 5.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,915 shares of the oil and natural gas company’s stock worth $23,806,000 after acquiring an additional 5,863 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Diamondback Energy during the second quarter valued at approximately $1,144,000. Finally, Whittier Trust Co. boosted its holdings in shares of Diamondback Energy by 168.5% in the second quarter. Whittier Trust Co. now owns 1,536 shares of the oil and natural gas company’s stock valued at $307,000 after purchasing an additional 964 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FANG shares. Mizuho lifted their target price on Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Scotiabank lowered their price objective on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. KeyCorp began coverage on shares of Diamondback Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price target on shares of Diamondback Energy in a research report on Tuesday, August 13th. Finally, Truist Financial raised their target price on Diamondback Energy from $249.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.85.

Diamondback Energy Trading Down 0.9 %

Shares of FANG opened at $195.11 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $199.19 and a 200 day moving average price of $195.20. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50. The firm has a market capitalization of $34.80 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.06 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.68 EPS. Sell-side analysts forecast that Diamondback Energy, Inc. will post 18.63 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $2.34 per share. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio is currently 20.29%.

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.