US Bancorp DE trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 8.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 23,342 shares of the oil and natural gas company's stock after selling 2,256 shares during the quarter. US Bancorp DE's holdings in Diamondback Energy were worth $3,732,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of FANG. Demars Financial Group LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $638,050,000. Alyeska Investment Group L.P. bought a new position in Diamondback Energy in the 4th quarter valued at approximately $185,193,000. Price T Rowe Associates Inc. MD boosted its stake in Diamondback Energy by 11.3% during 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. GAMMA Investing LLC increased its holdings in shares of Diamondback Energy by 16,197.8% in the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock worth $96,827,000 after purchasing an additional 601,909 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Diamondback Energy by 5,748.3% in the fourth quarter. Two Sigma Investments LP now owns 448,624 shares of the oil and natural gas company's stock worth $73,498,000 after purchasing an additional 440,953 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.
Diamondback Energy Stock Performance
FANG traded down $1.32 during midday trading on Wednesday, reaching $144.36. The company had a trading volume of 2,171,306 shares, compared to its average volume of 1,973,740. The business has a 50-day moving average of $143.30 and a two-hundred day moving average of $146.47. The company has a quick ratio of 0.83, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $202.87. The company has a market cap of $42.18 billion, a P/E ratio of 10.26 and a beta of 1.09.
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 the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%. The firm had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same period in the prior year, the company posted $4.52 earnings per share. The company's revenue was up 48.1% compared to the same quarter last year. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.
Diamondback Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Thursday, August 14th. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on FANG shares. Bank of America increased their price objective on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Raymond James Financial upped their target price on shares of Diamondback Energy from $204.00 to $221.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. Evercore ISI started coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price target on the stock. Mizuho decreased their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, KeyCorp lowered 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 report on Monday, April 21st. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $191.59.
Read Our Latest Research Report on Diamondback Energy
Insider Activity at Diamondback Energy
In related news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, the president owned 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was 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 link. 0.70% of the stock is owned by insiders.
About Diamondback Energy
(
Free Report)
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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