Banco Santander S.A. Trims Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• Banco Santander S.A. has reduced its holdings in Diamondback Energy, Inc. by 9.0%, now owning 73,007 shares valued at approximately $11.67 million.
• Diamondback Energy reported a quarterly EPS of $4.54, surpassing analyst estimates by 87 cents, with a revenue of $4.05 billion, demonstrating an 81.8% increase year-over-year.
• The company declared a quarterly dividend of $1.00 per share, reflecting a 2.7% yield and a payout ratio of 24.46%.

Banco Santander S.A. reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 9.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 73,007 shares of the oil and natural gas company's stock after selling 7,224 shares during the period. Banco Santander S.A.'s holdings in Diamondback Energy were worth $11,672,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after purchasing an additional 928,429 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Diamondback Energy by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after purchasing an additional 94,177 shares during the last quarter. Demars Financial Group LLC lifted its holdings in shares of Diamondback Energy by 5.3% in the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock valued at $655,953,000 after purchasing an additional 208,200 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Diamondback Energy by 12.6% in the 4th quarter. Invesco Ltd. now owns 3,086,468 shares of the oil and natural gas company's stock valued at $505,656,000 after purchasing an additional 345,353 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 4.1% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company's stock valued at $468,846,000 after purchasing an additional 114,930 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president owned 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

FANG has been the topic of several recent research reports. Mizuho dropped their price target on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Royal Bank Of Canada initiated coverage on Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price target on the stock. Susquehanna dropped their price target on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Citigroup upgraded Diamondback Energy from a "reduce" rating to a "buy" rating and boosted their price target for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Finally, Barclays dropped their price target on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $191.59.

Diamondback Energy Price Performance

Shares of FANG traded down $6.16 on Tuesday, reaching $141.62. The stock had a trading volume of 992,783 shares, compared to its average volume of 2,454,400. The firm has a market capitalization of $41.38 billion, a PE ratio of 8.67 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $143.14 and a 200 day moving average of $146.47. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $202.87.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The company had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same period in the previous year, the company posted $4.52 EPS. Diamondback Energy's quarterly revenue was up 48.1% compared to the same quarter last year. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. Diamondback Energy's payout ratio is currently 24.46%.

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.