Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,321 shares of the oil and natural gas company’s stock after selling 274 shares during the period. Fifth Third Bancorp’s holdings in Diamondback Energy were worth $1,363,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FANG. Assenagon Asset Management S.A. lifted its stake in shares of Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after purchasing an additional 1,042,505 shares during the last quarter. Zimmer Partners LP acquired a new position in Diamondback Energy in the third quarter valued at about $87,924,000. Holocene Advisors LP boosted its stake in Diamondback Energy by 95.3% during the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after buying an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. increased its position in shares of Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after acquiring an additional 439,579 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Diamondback Energy by 17,151.2% in the 3rd quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after acquiring an additional 338,050 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 1.4 %

FANG stock opened at $169.25 on Wednesday. The stock has a market cap of $49.42 billion, a P/E ratio of 9.69, a PEG ratio of 1.44 and a beta of 1.88. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $147.93 and a twelve month high of $214.50. The company’s 50 day moving average is $170.08 and its two-hundred day moving average is $181.72.

Diamondback Energy (NASDAQ:FANGGet Free Report) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business earned $5.49 earnings per share. Diamondback Energy’s revenue was up 13.0% compared to the same quarter last year. Research analysts expect that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FANG shares. Citigroup began coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They set a “neutral” rating and a $195.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. The Goldman Sachs Group initiated coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. UBS Group dropped their target price on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Finally, StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $215.00.

Read Our Latest Research Report on Diamondback Energy

Insider Activity at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.48% of the company’s stock.

Diamondback Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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