Procyon Advisors LLC Buys 134 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Procyon Advisors LLC increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,028 shares of the oil and natural gas company’s stock after purchasing an additional 134 shares during the quarter. Procyon Advisors LLC’s holdings in Diamondback Energy were worth $866,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in FANG. Centaurus Financial Inc. raised its position in Diamondback Energy by 26.5% in the 4th quarter. Centaurus Financial Inc. now owns 1,285 shares of the oil and natural gas company’s stock worth $199,000 after purchasing an additional 269 shares during the period. Syon Capital LLC purchased a new position in shares of Diamondback Energy in the fourth quarter valued at about $224,000. American International Group Inc. increased its position in shares of Diamondback Energy by 1.2% in the fourth quarter. American International Group Inc. now owns 61,507 shares of the oil and natural gas company’s stock valued at $9,539,000 after acquiring an additional 704 shares during the period. Fisher Asset Management LLC increased its position in shares of Diamondback Energy by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 134,354 shares of the oil and natural gas company’s stock valued at $20,836,000 after acquiring an additional 416 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Diamondback Energy in the fourth quarter valued at about $414,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Benchmark boosted their price objective on shares of Diamondback Energy from $154.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company decreased their price objective on shares of Diamondback Energy from $230.00 to $219.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. StockNews.com cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $205.00 to $215.00 in a research report on Friday, October 4th. Finally, Sanford C. Bernstein reduced their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $210.27.

Insider Activity at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on 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 owns 1,037,819 shares in the company, valued at $181,732,485.09. This 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 at the SEC website. 0.48% of the stock is owned by insiders.

Diamondback Energy Trading Down 5.7 %

Shares of NASDAQ FANG opened at $179.77 on Wednesday. The firm’s 50 day moving average price is $187.12 and its 200-day moving average price is $195.08. The company has a market cap of $32.06 billion, a PE ratio of 10.13, a P/E/G ratio of 1.22 and a beta of 1.89. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.68 earnings per share. On average, equities research analysts expect that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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