Diversified Trust Co Cuts Holdings in Diamondback Energy, Inc. $FANG

Key Points

• Diversified Trust Co reduced its stake in Diamondback Energy by 10% during the second quarter, owning 28,471 shares valued at approximately $3.9 million after selling 3,153 shares.
• Several institutional investors, including BankPlus Trust Department and Pinnacle Bancorp Inc., increased their holdings in Diamondback Energy, indicating strong interest in the stock.
• Diamondback Energy's recent quarterly earnings showed a miss in EPS estimates, with a reported $2.67 per share against a consensus estimate of $2.72, but revenue was up 48.1% year-over-year.

Diversified Trust Co cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 10.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,471 shares of the oil and natural gas company's stock after selling 3,153 shares during the quarter. Diversified Trust Co's holdings in Diamondback Energy were worth $3,912,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners raised its position in shares of Diamondback Energy by 4.8% during the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company's stock worth $861,961,000 after purchasing an additional 249,098 shares during the period. Bank of New York Mellon Corp grew its position in Diamondback Energy by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock worth $680,649,000 after acquiring an additional 94,177 shares during the last quarter. Demars Financial Group LLC lifted its stake in shares of Diamondback Energy by 5.3% in the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock valued at $655,953,000 after purchasing an additional 208,200 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of Diamondback Energy by 4.1% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company's stock valued at $468,846,000 after purchasing an additional 114,930 shares during the period. Finally, Wellington Management Group LLP raised its stake in Diamondback Energy by 27.3% in the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company's stock valued at $311,792,000 after buying an additional 418,431 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Trading Up 4.0%

FANG traded up $5.56 during trading on Tuesday, reaching $144.39. The company had a trading volume of 824,251 shares, compared to its average volume of 2,378,719. The company has a market cap of $41.80 billion, a price-to-earnings ratio of 10.26 and a beta of 1.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $200.47. The firm's 50-day simple moving average is $142.27 and its 200 day simple moving average is $141.76.

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

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.8%. Diamondback Energy's payout ratio is currently 28.43%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

FANG has been the topic of several analyst reports. Mizuho reduced their price objective on shares of Diamondback Energy from $183.00 to $176.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Melius initiated coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Diamondback Energy from $210.00 to $211.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. KeyCorp decreased their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Finally, Morgan Stanley upped their target price on shares of Diamondback Energy from $184.00 to $186.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $193.39.

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.