Valeo Financial Advisors LLC Increases Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Valeo Financial Advisors LLC grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 13.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,750 shares of the oil and natural gas company’s stock after purchasing an additional 326 shares during the period. Valeo Financial Advisors LLC’s holdings in Diamondback Energy were worth $474,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FANG. Vanguard Group Inc. grew its holdings in Diamondback Energy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after buying an additional 176,208 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Diamondback Energy by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Diamondback Energy by 16.0% during the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after purchasing an additional 415,902 shares in the last quarter. Boston Partners lifted its position in Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after purchasing an additional 1,916,900 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Diamondback Energy by 10.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after buying an additional 247,065 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Down 2.2 %

NASDAQ:FANG opened at $190.70 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The company has a 50-day moving average of $187.31 and a 200 day moving average of $195.21. The firm has a market cap of $34.01 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.01. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.68 EPS. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FANG. Bank of America increased their price target on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $205.00 to $215.00 in a report on Friday, October 4th. Morgan Stanley increased their price target on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wolfe Research started coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, StockNews.com downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.73.

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.