Haverford Trust Co Buys 71 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Haverford Trust Co lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,598 shares of the oil and natural gas company’s stock after acquiring an additional 71 shares during the quarter. Haverford Trust Co’s holdings in Diamondback Energy were worth $275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FANG. Wealth Enhancement Advisory Services LLC grew its position in Diamondback Energy by 178.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after purchasing an additional 19,552 shares in the last quarter. Atria Investments Inc increased its position in shares of Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after acquiring an additional 6,672 shares during the last quarter. Cullen Investment Group LTD. lifted its holdings in Diamondback Energy by 33.5% during the third quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock worth $2,065,000 after acquiring an additional 3,008 shares during the period. ORG Partners LLC lifted its holdings in Diamondback Energy by 2,768.9% during the second quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock worth $883,000 after acquiring an additional 4,181 shares during the period. Finally, Homestead Advisers Corp bought a new position in Diamondback Energy in the 1st quarter valued at $87,940,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Piper Sandler upped their price objective on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a research report on Wednesday, November 6th. Evercore ISI dropped their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Finally, Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $209.64.

Diamondback Energy Trading Up 0.6 %

Shares of NASDAQ FANG opened at $182.42 on Friday. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a 50-day moving average of $181.26 and a 200 day moving average of $191.70. The stock has a market cap of $53.26 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 1.27 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results 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 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm earned $5.49 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 17 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Diamondback Energy Company 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.