Vanguard Group Inc. lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,936,775 shares of the oil and natural gas company's stock after selling 210,980 shares during the quarter. Vanguard Group Inc. owned 7.80% of Diamondback Energy worth $3,667,132,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Investor s Fiduciary Advisor Network LLC boosted its holdings in Diamondback Energy by 2.1% during the 1st 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 during the period. Mesirow Financial Investment Management Inc. boosted its stake in shares of Diamondback Energy by 5.6% during 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 purchasing an additional 75 shares during the period. FourThought Financial Partners LLC grew 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 worth $444,000 after purchasing an additional 78 shares during the last quarter. Grove Bank & Trust increased 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 worth $32,000 after buying an additional 80 shares during the period. Finally, Rehmann Capital Advisory Group increased its stake in shares of Diamondback Energy by 6.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company's stock worth $236,000 after buying an additional 82 shares during the period. 90.01% of the stock is owned by institutional investors.
Insider Buying and Selling
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 stock was 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 owned 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% of the company's stock.
Wall Street Analysts Forecast Growth
FANG has been the subject of several recent analyst reports. KeyCorp lowered their price objective on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. lowered their price target on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Barclays dropped their price objective on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company boosted their target price on Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Finally, Susquehanna cut their price target on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Two equities 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 company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $191.59.
Check Out Our Latest Analysis on FANG
Diamondback Energy Price Performance
FANG opened at $141.12 on Friday. The firm has a market cap of $41.23 billion, a PE ratio of 10.03 and a beta of 1.09. The stock has a 50-day moving average price of $143.53 and a 200-day moving average price of $146.18. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $202.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.83.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm's revenue for the quarter was up 48.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.52 earnings per share. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.
Diamondback Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date is Thursday, August 14th. Diamondback Energy's dividend payout ratio (DPR) is currently 28.43%.
Diamondback Energy Company Profile
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Free Report)
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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