Raleigh Capital Management Inc. Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Raleigh Capital Management Inc. increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 13.7% in the third quarter, Holdings Channel.com reports. The firm owned 1,753 shares of the oil and natural gas company’s stock after purchasing an additional 211 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Diamondback Energy were worth $302,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Diamondback Energy by 178.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after purchasing an additional 19,552 shares during the period. Cullen Investment Group LTD. raised its holdings in shares of Diamondback Energy by 33.5% in the 3rd quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after purchasing an additional 3,008 shares in the last quarter. ORG Partners LLC raised its holdings in shares of Diamondback Energy by 2,768.9% in the 2nd quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock valued at $883,000 after purchasing an additional 4,181 shares in the last quarter. Homestead Advisers Corp bought a new stake in shares of Diamondback Energy in the 1st quarter valued at about $87,940,000. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Diamondback Energy in the 1st quarter valued at about $5,148,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction 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 sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FANG shares. KeyCorp reduced their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. JPMorgan Chase & Co. started coverage on shares of Diamondback Energy in a report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price target for the company. Johnson Rice lowered shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Sanford C. Bernstein reduced their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Finally, Bank of America boosted their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $210.09.

Diamondback Energy Stock Up 0.9 %

FANG stock opened at $184.03 on Wednesday. The firm’s fifty day simple moving average is $185.73 and its 200-day simple moving average is $194.44. The company has a market capitalization of $32.82 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.51 by $0.01. The business 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 for the quarter was up 29.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.68 EPS. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current 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 issued a dividend of $2.34 per share. 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. This represents a yield of 1.9%. Diamondback Energy’s dividend 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.