Tributary Capital Management LLC Cuts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Tributary Capital Management LLC decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,780 shares of the oil and natural gas company’s stock after selling 110 shares during the quarter. Tributary Capital Management LLC’s holdings in Diamondback Energy were worth $307,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Montz Harcus Wealth Management LLC boosted its position in Diamondback Energy by 12.0% in the 3rd quarter. Montz Harcus Wealth Management LLC now owns 1,183 shares of the oil and natural gas company’s stock valued at $204,000 after buying an additional 127 shares during the period. Custom Index Systems LLC acquired a new stake in shares of Diamondback Energy in the third quarter valued at $611,000. Ellis Investment Partners LLC boosted its holdings in Diamondback Energy by 0.5% in the third quarter. Ellis Investment Partners LLC now owns 13,493 shares of the oil and natural gas company’s stock valued at $2,326,000 after purchasing an additional 69 shares during the period. Benedict Financial Advisors Inc. grew its stake in Diamondback Energy by 17.7% during the 3rd quarter. Benedict Financial Advisors Inc. now owns 15,853 shares of the oil and natural gas company’s stock worth $2,733,000 after purchasing an additional 2,380 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC increased its holdings in Diamondback Energy by 6.0% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 1,650 shares of the oil and natural gas company’s stock worth $284,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Down 3.4 %

NASDAQ FANG opened at $178.19 on Tuesday. The firm’s fifty day moving average is $184.55 and its two-hundred day moving average is $193.72. Diamondback Energy, Inc. has a one year low of $145.70 and a one year 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. The firm has a market cap of $31.78 billion, a PE ratio of 10.04, a P/E/G ratio of 1.27 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm posted $3.68 EPS. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. Analysts expect that Diamondback Energy, Inc. will post 17.37 earnings per share for the current 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 paid a dividend of $2.34 per share. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is 20.29%.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s 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 completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Susquehanna decreased their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Wolfe Research assumed coverage on shares of Diamondback Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Johnson Rice downgraded shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Benchmark lifted their price objective on shares of Diamondback Energy from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Scotiabank dropped their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

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.