Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,964 shares of the oil and natural gas company’s stock after selling 780 shares during the period. Systematic Financial Management LP’s holdings in Diamondback Energy were worth $3,997,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in FANG. Nemes Rush Group LLC increased its position in Diamondback Energy by 4.4% during the second quarter. Nemes Rush Group LLC now owns 5,922 shares of the oil and natural gas company’s stock worth $1,186,000 after buying an additional 248 shares during the period. Creative Planning increased its position in Diamondback Energy by 2.6% during the second quarter. Creative Planning now owns 33,387 shares of the oil and natural gas company’s stock worth $6,684,000 after buying an additional 835 shares during the period. Magnolia Capital Advisors LLC increased its position in Diamondback Energy by 9.8% during the second quarter. Magnolia Capital Advisors LLC now owns 5,819 shares of the oil and natural gas company’s stock worth $1,165,000 after buying an additional 518 shares during the period. Copperwynd Financial LLC increased its position in Diamondback Energy by 83.2% during the second quarter. Copperwynd Financial LLC now owns 3,442 shares of the oil and natural gas company’s stock worth $696,000 after buying an additional 1,563 shares during the period. Finally, Doheny Asset Management CA increased its position in Diamondback Energy by 2.4% during the second quarter. Doheny Asset Management CA now owns 19,711 shares of the oil and natural gas company’s stock worth $3,946,000 after buying an additional 453 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on FANG. Morgan Stanley lifted their price target on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wolfe Research started coverage on Diamondback Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. UBS Group dropped their target price on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. StockNews.com lowered Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Finally, Scotiabank dropped their target price on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.71.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Up 1.0 %

FANG opened at $170.63 on Monday. The business’s fifty day moving average is $189.17 and its two-hundred day moving average is $195.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The company has a market cap of $30.43 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 1.17 and a beta of 1.89. Diamondback Energy, Inc. has a one year low of $143.08 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. Diamondback Energy’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.68 earnings per share. Analysts anticipate that Diamondback Energy, Inc. will post 18.97 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. This represents a dividend yield of 1.9%. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. Diamondback Energy’s payout ratio is 20.29%.

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.