Natixis Advisors LLC Decreases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• Natixis Advisors LLC has reduced its stake in Diamondback Energy by 4.1%, now holding 142,199 shares valued at approximately $22.7 million following the sale of 6,134 shares.
• President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy for about $1.43 million, representing a 7.65% decrease in his ownership.
• Diamondback Energy has recently reported earnings of $4.54 per share, exceeding analysts' estimates by $0.87, along with significant revenue growth of 81.8% year-over-year.

Natixis Advisors LLC cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 142,199 shares of the oil and natural gas company's stock after selling 6,134 shares during the period. Natixis Advisors LLC's holdings in Diamondback Energy were worth $22,735,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FANG. BankPlus Trust Department bought a new stake in shares of Diamondback Energy in the 1st quarter valued at about $27,000. Pinnacle Bancorp Inc. lifted its position in Diamondback Energy by 95.7% in the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock valued at $29,000 after purchasing an additional 88 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock valued at $32,000 after purchasing an additional 80 shares during the period. WASHINGTON TRUST Co boosted its stake in shares of Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock valued at $32,000 after purchasing an additional 109 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth approximately $33,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

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 stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president directly owned 120,645 shares of the company's stock, valued at approximately $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 can be accessed through this link. Insiders own 0.70% of the company's stock.

Diamondback Energy Stock Down 1.7%

Shares of Diamondback Energy stock opened at $146.14 on Friday. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $202.87. The firm has a market cap of $42.70 billion, a price-to-earnings ratio of 8.94 and a beta of 1.05. The company has a 50-day moving average of $142.90 and a 200 day moving average of $147.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The business had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. During the same quarter in the prior year, the company earned $4.50 earnings per share. The business's revenue was up 81.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. Diamondback Energy's payout ratio is presently 24.46%.

Analysts Set New Price Targets

Several brokerages have weighed in on FANG. Evercore ISI started coverage on shares of Diamondback Energy in a research report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price target for the company. Citigroup upgraded shares of Diamondback Energy from a "reduce" rating to a "buy" rating and increased their target price for the stock from $157.00 to $180.00 in a report on Monday, April 7th. Morgan Stanley restated an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, July 15th. Bank of America upped their price target on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a research report on Friday, July 11th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Diamondback Energy has an average rating of "Buy" and a consensus target price of $191.59.

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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