Private Advisor Group LLC Has $1.50 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• Private Advisor Group LLC sold 12,599 shares of Diamondback Energy, reducing its stake by 57.3% to a total of 9,375 shares valued at $1,499,000 as of the end of the most recent quarter.
• Diamondback Energy reported earnings of $4.54 per share for the quarter, exceeding analysts' expectations of $3.67, with revenue increasing 81.8% year-over-year to $4.05 billion.
• The company announced a $1.00 quarterly dividend, equivalent to an annualized yield of 2.77%, with a payout ratio of 24.46%.

Private Advisor Group LLC cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 57.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,375 shares of the oil and natural gas company's stock after selling 12,599 shares during the period. Private Advisor Group LLC's holdings in Diamondback Energy were worth $1,499,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FANG. Price T Rowe Associates Inc. MD grew its stake in Diamondback Energy by 11.3% in 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 buying an additional 928,429 shares during the last quarter. Geode Capital Management LLC grew its stake in Diamondback Energy by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock valued at $769,706,000 after buying an additional 91,605 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Diamondback Energy by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after buying an additional 94,177 shares during the last quarter. Demars Financial Group LLC grew its stake in 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 buying an additional 208,200 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Diamondback Energy by 12.6% in the 4th quarter. Invesco Ltd. now owns 3,086,468 shares of the oil and natural gas company's stock valued at $505,656,000 after buying an additional 345,353 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FANG. Morgan Stanley reissued an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, July 15th. Raymond James Financial boosted their price objective on shares of Diamondback Energy from $204.00 to $221.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. Evercore ISI began coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price objective for the company. Royal Bank Of Canada began coverage on shares of Diamondback Energy in a report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of "Buy" and a consensus price target of $191.59.

Insiders Place Their Bets

In other Diamondback Energy 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 value of $1,426,900.00. Following the completion of 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.48% of the company's stock.

Diamondback Energy Trading Down 0.4%

NASDAQ FANG traded down $0.66 during mid-day trading on Tuesday, reaching $149.86. 202,785 shares of the stock were exchanged, compared to its average volume of 2,453,412. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $203.98. The stock has a 50 day simple moving average of $141.87 and a 200-day simple moving average of $147.51. The stock has a market cap of $43.78 billion, a P/E ratio of 9.15 and a beta of 1.05. 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 earnings results 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 during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter last year, the firm earned $4.50 earnings per share. Diamondback Energy's quarterly revenue was up 81.8% on a year-over-year basis. On average, analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is currently 24.46%.

About Diamondback Energy

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.