Sava Infond d.o.o. Sells 1,800 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Sava Infond d.o.o. reduced its stake in Diamondback Energy, Inc. by 78.3% in Q2, selling 1,800 shares and holding only 500 shares valued at $69,000.
• Diamondback Energy reported $2.67 earnings per share for the last quarter, missing analysts' expectations while its revenue increased by 48.1% year-over-year to $3.68 billion.
• The company declared a quarterly dividend of $1.00 per share, representing an annualized dividend of $4.00 and a yield of 2.7%.

Sava Infond d.o.o. reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 78.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500 shares of the oil and natural gas company's stock after selling 1,800 shares during the quarter. Sava Infond d.o.o.'s holdings in Diamondback Energy were worth $69,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Investor s Fiduciary Advisor Network LLC raised its holdings in shares of Diamondback Energy by 2.1% in the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock valued at $569,000 after acquiring an additional 74 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in shares of Diamondback Energy by 5.6% in the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company's stock valued at $226,000 after acquiring an additional 75 shares in the last quarter. FourThought Financial Partners LLC raised its holdings in shares of Diamondback Energy by 2.9% in the first quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company's stock valued at $444,000 after acquiring an additional 78 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of Diamondback Energy by 65.0% in the first 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 in the last quarter. Finally, Biondo Investment Advisors LLC raised its holdings in shares of Diamondback Energy by 0.3% in the first quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company's stock valued at $4,614,000 after acquiring an additional 80 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Up 3.0%

Shares of NASDAQ:FANG opened at $147.47 on Friday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $200.47. The company has a market capitalization of $42.69 billion, a PE ratio of 10.48 and a beta of 1.04. The business has a 50 day moving average of $142.86 and a two-hundred day moving average of $141.52. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly 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 company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the firm posted $4.52 earnings per share. The company's revenue was up 48.1% compared to the same quarter last year. As a group, analysts forecast 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, 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 dividend on an annualized basis and a yield of 2.7%. Diamondback Energy's payout ratio is presently 28.43%.

Analyst Upgrades and Downgrades

FANG has been the subject of several recent research reports. Weiss Ratings restated a "hold (c-)" rating on shares of Diamondback Energy in a report on Saturday, September 27th. Wall Street Zen downgraded shares of Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. KeyCorp reduced their target price 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. UBS Group boosted their target price on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Finally, Susquehanna reduced their target price on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Two 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $192.41.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the business's 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 completion of the transaction, the chairman directly owned 102,145 shares of the company's stock, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale 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 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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