Diamondback Energy, Inc. $FANG Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Diamondback Energy by 10% during Q2, now owning approximately 0.13% of the company valued at $50.56 million after selling 40,947 shares.
• Several research analysts issued mixed ratings on Diamondback Energy, with the average target price now at $192.23, and two analysts rating it as a Strong Buy.
• Diamondback Energy recently declared a quarterly dividend of $1.00 per share, resulting in an annualized yield of 2.8% and a dividend payout ratio of 28.43%.

TD Asset Management Inc decreased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 10.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 367,985 shares of the oil and natural gas company's stock after selling 40,947 shares during the period. TD Asset Management Inc owned approximately 0.13% of Diamondback Energy worth $50,561,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FANG. Farther Finance Advisors LLC boosted its stake in Diamondback Energy by 36.0% during the first quarter. Farther Finance Advisors LLC now owns 1,085 shares of the oil and natural gas company's stock valued at $174,000 after buying an additional 287 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in Diamondback Energy by 14.0% during the first quarter. Dynamic Advisor Solutions LLC now owns 4,030 shares of the oil and natural gas company's stock valued at $644,000 after buying an additional 494 shares in the last quarter. Brighton Jones LLC boosted its stake in Diamondback Energy by 12.3% during the first quarter. Brighton Jones LLC now owns 1,803 shares of the oil and natural gas company's stock valued at $288,000 after buying an additional 198 shares in the last quarter. Cyndeo Wealth Partners LLC bought a new position in Diamondback Energy during the first quarter valued at about $341,000. Finally, Sowell Financial Services LLC bought a new position in Diamondback Energy during the first quarter valued at about $1,382,000. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FANG shares. Susquehanna decreased their target price on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Evercore ISI increased their price objective on Diamondback Energy from $165.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, October 6th. Melius started coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $213.00 price objective for the company. Mizuho cut their price objective on Diamondback Energy from $183.00 to $176.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Finally, Wells Fargo & Company increased their price objective on Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $192.23.

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the sale, the chairman owned 102,145 shares of the company's stock, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company's stock.

Diamondback Energy Trading Up 0.1%

NASDAQ:FANG opened at $141.94 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $186.74. The stock's 50-day moving average is $142.27 and its two-hundred day moving average is $140.80. The stock has a market cap of $41.09 billion, a PE ratio of 10.09 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period last year, the firm earned $4.52 EPS. The company's revenue was up 48.1% compared to the same quarter last year. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. Diamondback Energy's dividend payout ratio (DPR) is presently 28.43%.

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.

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