Bank of New York Mellon Corp Has $680.65 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Bank of New York Mellon Corp increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,257,247 shares of the oil and natural gas company's stock after acquiring an additional 94,177 shares during the quarter. Bank of New York Mellon Corp owned about 1.45% of Diamondback Energy worth $680,649,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wintrust Investments LLC bought a new position in shares of Diamondback Energy during the fourth quarter worth approximately $28,000. Pinnacle Bancorp Inc. grew its position in Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after buying an additional 88 shares in the last quarter. Grove Bank & Trust increased its stake in Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 80 shares during the period. WASHINGTON TRUST Co increased its stake in Diamondback Energy by 119.8% during the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 109 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new position in Diamondback Energy in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Insiders Place Their Bets

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, the president directly owned 120,645 shares of the company's stock, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Diamondback Energy Trading Down 0.9%

Shares of Diamondback Energy stock traded down $1.22 on Friday, hitting $140.75. The stock had a trading volume of 1,199,623 shares, compared to its average volume of 2,283,012. The stock has a 50 day moving average of $140.42 and a 200 day moving average of $150.00. The firm has a market capitalization of $41.12 billion, a P/E ratio of 8.61 and a beta of 1.05. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping analysts' consensus estimates of $3.67 by $0.87. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The company's revenue for the quarter was up 81.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.50 EPS. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.84%. Diamondback Energy's payout ratio is 24.46%.

Analyst Upgrades and Downgrades

FANG has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. KeyCorp reduced their price objective on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Bank of America raised their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Royal Bank Of Canada initiated coverage on shares of Diamondback Energy in a report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price target for the company. Finally, UBS Group reduced their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $193.13.

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.