Oppenheimer & Co. Inc. Sells 3,225 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Oppenheimer & Co. Inc. cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,809 shares of the oil and natural gas company’s stock after selling 3,225 shares during the period. Oppenheimer & Co. Inc.’s holdings in Diamondback Energy were worth $4,766,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FANG. Franklin Resources Inc. raised its position in shares of Diamondback Energy by 14.1% in the 4th quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock valued at $7,852,000 after buying an additional 6,240 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Diamondback Energy by 178.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after purchasing an additional 19,552 shares during the last quarter. TFO Wealth Partners LLC lifted its stake in Diamondback Energy by 78,990.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,909 shares of the oil and natural gas company’s stock worth $1,227,000 after purchasing an additional 7,899 shares during the last quarter. Integrated Advisors Network LLC boosted its holdings in shares of Diamondback Energy by 92.8% in the 4th quarter. Integrated Advisors Network LLC now owns 13,031 shares of the oil and natural gas company’s stock valued at $2,021,000 after purchasing an additional 6,272 shares in the last quarter. Finally, Kapitalo Investimentos Ltda increased its stake in shares of Diamondback Energy by 1,842.5% in the 4th quarter. Kapitalo Investimentos Ltda now owns 4,390 shares of the oil and natural gas company’s stock valued at $681,000 after purchasing an additional 4,164 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FANG shares. Scotiabank reduced their price objective on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Barclays lifted their price target on shares of Diamondback Energy from $214.00 to $216.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 price objective on shares of Diamondback Energy in a research note on Tuesday, August 13th. Bank of America raised their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Sanford C. Bernstein lowered their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, six have issued 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.45.

Diamondback Energy Stock Up 0.9 %

Shares of NASDAQ FANG opened at $172.42 on Friday. The company’s 50 day moving average price is $194.77 and its 200-day moving average price is $195.75. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. Diamondback Energy, Inc. has a 52-week low of $143.08 and a 52-week high of $214.50. The company has a market capitalization of $30.76 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the business earned $3.68 earnings per share. Diamondback Energy’s revenue for the quarter was up 29.4% on a year-over-year basis. Equities analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

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

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.