Bradley Foster & Sargent Inc. CT Sells 629 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Bradley Foster & Sargent Inc. CT reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,396 shares of the oil and natural gas company’s stock after selling 629 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Diamondback Energy were worth $2,281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FANG. Quent Capital LLC lifted its holdings in shares of Diamondback Energy by 7.2% during the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after acquiring an additional 54 shares during the period. Sugarloaf Wealth Management LLC lifted its holdings in shares of Diamondback Energy by 0.3% during the second quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock valued at $3,999,000 after acquiring an additional 56 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Diamondback Energy by 16.1% during the second quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after acquiring an additional 57 shares during the period. Confluence Investment Management LLC lifted its holdings in shares of Diamondback Energy by 1.6% during the second quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock valued at $734,000 after acquiring an additional 58 shares during the period. Finally, Center For Asset Management LLC lifted its holdings in shares of Diamondback Energy by 3.3% during the second quarter. Center For Asset Management LLC now owns 1,859 shares of the oil and natural gas company’s stock valued at $372,000 after acquiring an additional 60 shares during the period. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Trading Down 0.9 %

NASDAQ:FANG opened at $178.12 on Thursday. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a market capitalization of $31.77 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. The business’s 50-day simple moving average is $193.26 and its 200-day simple moving average is $195.65.

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

Diamondback Energy Increases Dividend

The firm also recently disclosed 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. This represents a dividend yield of 1.9%. 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. Diamondback Energy’s payout ratio is 20.29%.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of analyst reports. Bank of America lifted their price objective on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Wells Fargo & Company lowered their target price on Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Wolfe Research assumed coverage on Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Sanford C. Bernstein lowered their target price on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Finally, StockNews.com lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.71.

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.