Diamondback Energy, Inc. $FANG Holdings Cut by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 343,959 shares of the oil and natural gas company's stock after selling 7,832 shares during the period. Anchor Capital Advisors LLC owned about 0.12% of Diamondback Energy worth $60,461,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Hsbc Holdings PLC raised its holdings in Diamondback Energy by 16.3% during the fourth quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company's stock valued at $50,890,000 after buying an additional 47,450 shares in the last quarter. Guinness Asset Management LTD lifted its position in shares of Diamondback Energy by 12.0% in the fourth quarter. Guinness Asset Management LTD now owns 54,132 shares of the oil and natural gas company's stock worth $8,042,000 after buying an additional 5,816 shares during the last quarter. Peterson Wealth Services boosted its stake in shares of Diamondback Energy by 174.2% during the 4th quarter. Peterson Wealth Services now owns 23,973 shares of the oil and natural gas company's stock worth $3,604,000 after acquiring an additional 15,229 shares in the last quarter. National Pension Service boosted its stake in shares of Diamondback Energy by 7.7% during the 4th quarter. National Pension Service now owns 381,710 shares of the oil and natural gas company's stock worth $57,382,000 after acquiring an additional 27,229 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Diamondback Energy by 11.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 67,977 shares of the oil and natural gas company's stock valued at $10,219,000 after acquiring an additional 6,992 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FANG. Roth Capital set a $212.00 price objective on Diamondback Energy and gave the company a "buy" rating in a research note on Monday, June 22nd. Morgan Stanley reaffirmed an "equal weight" rating and set a $216.00 target price on shares of Diamondback Energy in a research report on Wednesday, August 19th. Mizuho increased their price target on Diamondback Energy from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. UBS Group reduced their price objective on shares of Diamondback Energy from $246.00 to $243.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $248.00 price objective on shares of Diamondback Energy in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $222.21.

Insiders Place Their Bets

In other Diamondback Energy news, Director Charles Meloy sold 33,333 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $198.41, for a total value of $6,613,600.53. Following the sale, the director owned 818,197 shares of the company's stock, valued at $162,338,466.77. The trade was a 3.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.64% of the stock is owned by corporate insiders.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $199.22 on Tuesday. The business has a 50 day moving average price of $195.37 and a two-hundred day moving average price of $192.07. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The stock has a market cap of $55.79 billion, a price-to-earnings ratio of 38.83 and a beta of 0.43. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $216.90.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, topping the consensus estimate of $6.08 by $0.40. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.Diamondback Energy's revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.38 EPS. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 20.14 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a dividend of $1.10 per share. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy's payout ratio is currently 85.77%.

Diamondback Energy Profile

Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.

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