Massachusetts Financial Services Co. MA Decreases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Massachusetts Financial Services Co. MA reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 24.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,202,472 shares of the oil and natural gas company's stock after selling 399,384 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.41% of Diamondback Energy worth $192,251,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. BankPlus Trust Department acquired a new stake in shares of Diamondback Energy during the 1st quarter valued at about $27,000. Pinnacle Bancorp Inc. grew its position in shares of Diamondback Energy by 95.7% during the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock valued at $29,000 after acquiring an additional 88 shares during the period. Grove Bank & Trust grew its position in shares of Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock valued at $32,000 after acquiring an additional 80 shares during the period. WASHINGTON TRUST Co grew its position in shares of Diamondback Energy by 119.8% during the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock valued at $32,000 after acquiring an additional 109 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at about $33,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FANG has been the topic of a number of research reports. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. Mizuho decreased their price target on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Royal Bank Of Canada initiated coverage on shares of Diamondback Energy in a research note on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price target on the stock. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price target for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Diamondback Energy in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Diamondback Energy has a consensus rating of "Buy" and a consensus target price of $193.48.

Diamondback Energy Trading Up 3.0%

Diamondback Energy stock traded up $4.04 during trading on Thursday, hitting $140.51. The company had a trading volume of 972,676 shares, compared to its average volume of 2,299,222. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The company's 50 day simple moving average is $141.52 and its 200-day simple moving average is $149.18. The stock has a market cap of $41.05 billion, a price-to-earnings ratio of 8.60 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter last year, the firm earned $4.50 EPS. The firm's revenue for the quarter was up 81.8% on a year-over-year basis. As a group, analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.85%. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

Insiders Place Their Bets

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the completion of the transaction, the president owned 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.70% of the company's stock.

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.