Fiduciary Family Office LLC Has $737,000 Stock Position in Diamondback Energy, Inc. $FANG

Key Points

• Fiduciary Family Office LLC decreased its holdings in Diamondback Energy by 43.8% in the second quarter, leaving them with a position worth $737,000.
• Several institutional investors, including Boston Partners and Wellington Management Group, have increased their stakes in Diamondback Energy, reflecting strong institutional interest with 90.01% of the company owned by such investors.
• Research analysts are optimistic about Diamondback Energy's prospects, with a consensus rating of "Buy" and an average price target of $189.91, despite a recent earnings miss.

Fiduciary Family Office LLC lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 43.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,366 shares of the oil and natural gas company's stock after selling 4,177 shares during the quarter. Fiduciary Family Office LLC's holdings in Diamondback Energy were worth $737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Partners lifted its holdings in shares of Diamondback Energy by 4.8% during the first quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company's stock worth $861,961,000 after buying an additional 249,098 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Diamondback Energy by 2.3% during the first 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 buying an additional 94,177 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in Diamondback Energy by 4.1% in the first 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 in the last quarter. 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 purchasing an additional 418,431 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Diamondback Energy in the first quarter valued at about $230,039,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FANG shares. UBS Group boosted their price target on Diamondback Energy from $163.00 to $171.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Barclays dropped their price target on Diamondback Energy from $185.00 to $178.00 and set an "overweight" rating for the company in a research note on Tuesday, October 7th. Morgan Stanley dropped their price target on Diamondback Energy from $186.00 to $184.00 and set an "overweight" rating for the company in a research note on Tuesday, October 14th. Melius started coverage on Diamondback Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price target for the company. Finally, KeyCorp dropped their price target on Diamondback Energy from $180.00 to $176.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Two investment 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. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $189.91.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $141.19 on Tuesday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $186.74. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The business's 50-day moving average price is $142.26 and its two-hundred day moving average price is $140.48. The stock has a market cap of $40.87 billion, a PE ratio of 10.03 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 (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the firm earned $4.52 EPS. The business's revenue was up 48.1% on a year-over-year basis. As a group, analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Thursday, August 14th. 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 Diamondback Energy stock in a transaction dated 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 $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

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.

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