Sequoia Financial Advisors LLC Has $1.08 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Sequoia Financial Advisors LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,266 shares of the oil and natural gas company’s stock after acquiring an additional 636 shares during the period. Sequoia Financial Advisors LLC’s holdings in Diamondback Energy were worth $1,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after acquiring an additional 2,381,488 shares during the period. Bank of New York Mellon Corp increased its position in Diamondback Energy by 16.0% in the 2nd 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 acquiring an additional 415,902 shares during the period. Boston Partners increased its position in Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after acquiring an additional 1,916,900 shares during the period. Massachusetts Financial Services Co. MA increased its position in 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 valued at $538,547,000 after acquiring an additional 247,065 shares during the period. Finally, Pacer Advisors Inc. increased its position in Diamondback Energy by 7.1% in the 2nd quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company’s stock valued at $495,236,000 after acquiring an additional 164,732 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FANG has been the subject of several recent analyst reports. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Morgan Stanley increased their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and set a $220.00 price objective on shares of Diamondback Energy in a research report on Tuesday, September 17th. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 price objective for the company. Finally, KeyCorp decreased their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $210.09.

Diamondback Energy Stock Up 1.9 %

Diamondback Energy stock opened at $184.38 on Friday. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The firm has a market capitalization of $32.88 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The firm’s fifty day moving average price is $185.11 and its two-hundred day moving average price is $194.25. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.19 billion. During the same period last year, the firm earned $3.68 earnings per share. The firm’s revenue was up 29.4% on a year-over-year basis. On average, equities research analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

Insider Activity 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 shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by insiders.

Diamondback Energy 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.