Greenleaf Trust Sells 141 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Greenleaf Trust lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,826 shares of the oil and natural gas company’s stock after selling 141 shares during the quarter. Greenleaf Trust’s holdings in Diamondback Energy were worth $1,177,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quent Capital LLC increased its stake in Diamondback Energy by 7.2% during the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after purchasing an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC raised its holdings in shares of Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Sugarloaf Wealth Management LLC raised its holdings in shares of Diamondback Energy by 0.3% in 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 purchasing an additional 56 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Diamondback Energy by 16.1% in 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 purchasing an additional 57 shares during the last quarter. Finally, Confluence Investment Management LLC grew its position in 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 buying an additional 58 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FANG has been the subject of several research reports. Scotiabank reduced their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and set a $220.00 price target on shares of Diamondback Energy in a research report on Tuesday, September 17th. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price target for the company from $205.00 to $215.00 in a research report on Friday, October 4th. Morgan Stanley increased their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Wolfe Research started coverage on shares of Diamondback Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. One investment 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Diamondback Energy Trading Down 0.1 %

FANG stock opened at $180.91 on Friday. The company has a market capitalization of $32.26 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The company’s 50 day moving average price is $185.42 and its two-hundred day moving average price is $194.34. 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 (NASDAQ:FANG) last issued its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping 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 company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the firm earned $3.68 earnings per share. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. As a group, analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $2.34 dividend. The ex-dividend date 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 payout ratio is 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.