Diversified Trust Co Reduces Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Diversified Trust Co cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,828 shares of the oil and natural gas company’s stock after selling 2,711 shares during the quarter. Diversified Trust Co’s holdings in Diamondback Energy were worth $6,307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FANG. Acadian Asset Management LLC bought a new position in Diamondback Energy during the third quarter valued at approximately $103,000. LPL Financial LLC grew its position in Diamondback Energy by 9.9% during the third quarter. LPL Financial LLC now owns 101,213 shares of the oil and natural gas company’s stock valued at $15,676,000 after acquiring an additional 9,103 shares during the last quarter. Mariner LLC boosted its stake in shares of Diamondback Energy by 1.9% during the third quarter. Mariner LLC now owns 16,562 shares of the oil and natural gas company’s stock valued at $2,565,000 after purchasing an additional 313 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Diamondback Energy by 559.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after purchasing an additional 218 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Diamondback Energy by 12.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 7,280 shares of the oil and natural gas company’s stock valued at $1,128,000 after purchasing an additional 806 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

NASDAQ FANG traded up $1.82 during trading hours on Monday, hitting $202.01. The company’s stock had a trading volume of 288,489 shares, compared to its average volume of 1,633,029. Diamondback Energy, Inc. has a 12 month low of $125.73 and a 12 month high of $211.96. The company’s 50 day simple moving average is $196.76 and its two-hundred day simple moving average is $181.73. The company has a market cap of $36.03 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.09 and a beta of 1.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. Diamondback Energy’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the company earned $4.10 EPS. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 19.06 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.90 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.78%. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of analyst reports. Susquehanna increased their price objective on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Stifel Nicolaus raised their price target on Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Morgan Stanley dropped their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. KeyCorp began coverage on Diamondback Energy in a research note on Thursday. They issued an “overweight” rating and a $225.00 price target for the company. Finally, Bank of America reaffirmed a “neutral” rating and issued a $201.00 price target on shares of Diamondback Energy in a research note on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $209.35.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the transaction, the vice president now owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders sold a total of 36,900 shares of company stock worth $7,362,750 in the last three months. 0.48% of the stock is currently owned by company insiders.

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.