Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Foster & Motley Inc.

Foster & Motley Inc. lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,688 shares of the oil and natural gas company’s stock after acquiring an additional 415 shares during the period. Foster & Motley Inc.’s holdings in Diamondback Energy were worth $1,153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Diamondback Energy by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after buying an additional 2,381,488 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after buying an additional 415,902 shares during the last quarter. Boston Partners grew its stake in Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after buying an additional 1,916,900 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Diamondback Energy by 10.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after buying an additional 247,065 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Diamondback Energy by 7.1% in the second quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company’s stock worth $495,236,000 after purchasing an additional 164,732 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FANG has been the subject of several recent analyst reports. UBS Group decreased their price target on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Susquehanna decreased their price target on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. KeyCorp decreased their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group initiated coverage on Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $209.64.

Diamondback Energy Trading Up 4.5 %

Shares of NASDAQ FANG opened at $183.62 on Thursday. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The company has a market cap of $54.12 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 1.26 and a beta of 1.89. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $182.34 and a 200-day simple moving average of $192.55.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 17.64% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the business posted $5.49 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. Sell-side analysts predict that Diamondback Energy, Inc. will post 17.1 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.96%. Diamondback Energy’s payout ratio is presently 20.61%.

Insiders Place Their Bets

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

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.