Town & Country Bank & Trust CO dba First Bankers Trust CO Sells 5,750 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Town & Country Bank & Trust CO has reduced its stake in Diamondback Energy, Inc. by 70.8%, selling 5,750 shares and now holding 2,373 shares worth approximately $326,000.
• Diamondback Energy reported a Q2 EPS of $2.67, missing analysts' expectations, though revenue increased by 48.1% year-over-year.
• Diamondback Energy declared a quarterly dividend of $1.00 per share, representing a 2.9% yield, with a payout ratio of 28.43%.

Town & Country Bank & Trust CO dba First Bankers Trust CO lowered its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 70.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,373 shares of the oil and natural gas company's stock after selling 5,750 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO's holdings in Diamondback Energy were worth $326,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FANG. BankPlus Trust Department bought a new position in shares of Diamondback Energy during the 1st quarter valued at approximately $27,000. Pinnacle Bancorp Inc. boosted its stake in Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after buying an additional 88 shares during the period. SouthState Corp increased its position in Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock valued at $31,000 after acquiring an additional 167 shares during the last quarter. Grove Bank & Trust raised its stake 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 during the period. Finally, WASHINGTON TRUST Co raised its stake in shares of Diamondback Energy by 119.8% in the first 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. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Trading Down 0.6%

Shares of NASDAQ FANG opened at $138.83 on Tuesday. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $200.47. The business has a fifty day moving average price of $142.27 and a 200 day moving average price of $141.76. The stock has a market capitalization of $40.19 billion, a P/E ratio of 9.87 and a beta of 1.15. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The firm 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 posted $4.52 earnings per share. The business's revenue for the quarter was up 48.1% compared to the same quarter last year. Equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $1.00 per share. 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 2.9%. Diamondback Energy's dividend payout ratio is presently 28.43%.

Analysts Set New Price Targets

A number of equities analysts recently commented on FANG shares. Susquehanna dropped their price target on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Morgan Stanley raised their price objective on shares of Diamondback Energy from $184.00 to $186.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Scotiabank restated an "outperform" rating on shares of Diamondback Energy in a research report on Friday, July 11th. Wall Street Zen downgraded Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, UBS Group raised their price target on Diamondback Energy from $163.00 to $171.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $193.39.

Insiders Place Their Bets

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company 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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