Diamondback Energy, Inc. $FANG Stake Cut by RFG Advisory LLC

Key Points

• RFG Advisory LLC cut its stake in Diamondback Energy, Inc. by 43.3% in the 2nd quarter, selling 2,330 shares and holding 3,053 shares worth approximately $419,000 at the end of the reporting period.
• Notable insider selling occurred as Chairman Travis D. Stice sold 20,400 shares at an average price of $142.80, reducing his ownership by 16.65%.
• Analysts have mixed opinions on Diamondback Energy, with price targets varying from $165.00 to $189.91 and ratings ranging from "strong buy" to "sell."

RFG Advisory LLC reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 43.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,053 shares of the oil and natural gas company's stock after selling 2,330 shares during the period. RFG Advisory LLC's holdings in Diamondback Energy were worth $419,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. raised its stake in shares of Diamondback Energy by 4.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock worth $5,784,000 after purchasing an additional 1,384 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Diamondback Energy by 6.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock worth $9,409,000 after purchasing an additional 3,467 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Diamondback Energy by 50.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company's stock worth $1,143,000 after purchasing an additional 2,397 shares in the last quarter. True North Advisors LLC purchased a new stake in shares of Diamondback Energy during the 1st quarter worth about $327,000. Finally, Wealth Advisory Solutions LLC purchased a new stake in shares of Diamondback Energy during the 1st quarter worth about $2,631,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FANG shares. Evercore ISI raised their price objective on Diamondback Energy from $165.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, October 6th. Morgan Stanley cut their price objective on Diamondback Energy from $186.00 to $184.00 and set an "overweight" rating on the stock in a research note on Tuesday. William Blair started coverage on Diamondback Energy in a research note on Monday, August 25th. They issued an "outperform" rating on the stock. Wall Street Zen downgraded Diamondback Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $173.00 price objective on shares of Diamondback Energy in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $189.91.

Diamondback Energy Stock Performance

FANG opened at $139.09 on Friday. The firm has a market capitalization of $40.27 billion, a P/E ratio of 9.89 and a beta of 1.04. The stock's 50 day moving average price is $142.18 and its two-hundred day moving average price is $140.36. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $186.74.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business's quarterly revenue was up 48.1% compared to the same quarter last year. During the same period last year, the business earned $4.52 EPS. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 14th. 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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