Fifth Third Wealth Advisors LLC Sells 187 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Fifth Third Wealth Advisors LLC reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 8.5% in the third quarter, HoldingsChannel reports. The firm owned 2,005 shares of the oil and natural gas company’s stock after selling 187 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Diamondback Energy were worth $346,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Diamondback Energy by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after purchasing an additional 2,381,488 shares during the period. Bank of New York Mellon Corp raised 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 period. Boston Partners boosted its holdings in Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after acquiring an additional 1,916,900 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Diamondback Energy by 10.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock valued at $538,547,000 after acquiring an additional 247,065 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in shares of Diamondback Energy by 7.1% during the second quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company’s stock valued at $495,236,000 after acquiring an additional 164,732 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FANG has been the topic of a number of recent research reports. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $205.00 to $215.00 in a report on Friday, October 4th. Citigroup initiated coverage on shares of Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price objective for the company. Morgan Stanley upped their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Raymond James lifted their price target on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Finally, StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $212.00.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 92.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now directly 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.

Diamondback Energy Trading Up 0.8 %

Diamondback Energy stock opened at $182.92 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The stock has a market cap of $53.41 billion, a P/E ratio of 10.47, a PEG ratio of 1.32 and a beta of 1.89. The firm’s fifty day moving average price is $181.89 and its 200-day moving average price is $190.94.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share 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 business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company earned $5.49 earnings per share. Diamondback Energy’s revenue was up 13.0% compared to the same quarter last year. Equities research analysts forecast that Diamondback Energy, Inc. will post 16.37 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

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

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.