Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Delphi Management Inc. MA

Delphi Management Inc. MA cut its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,412 shares of the oil and natural gas company’s stock after selling 715 shares during the quarter. Diamondback Energy accounts for about 1.5% of Delphi Management Inc. MA’s portfolio, making the stock its 6th largest holding. Delphi Management Inc. MA’s holdings in Diamondback Energy were worth $1,884,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Founders Capital Management increased its holdings in shares of Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after buying an additional 101 shares in the last quarter. First Community Trust NA bought a new stake in Diamondback Energy during the second quarter valued at $26,000. Carolinas Wealth Consulting LLC boosted its position in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Logan Capital Management Inc. bought a new stake in Diamondback Energy during the fourth quarter valued at $31,000. Finally, HHM Wealth Advisors LLC bought a new stake in Diamondback Energy during the second quarter valued at $40,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FANG shares. StockNews.com cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $220.00 price objective on shares of Diamondback Energy in a research note on Tuesday, September 17th. Sanford C. Bernstein decreased their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley raised their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Johnson Rice lowered shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.76.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $172.40 on Tuesday. Diamondback Energy, Inc. has a 52-week low of $143.08 and a 52-week high of $214.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The company has a market capitalization of $30.75 billion, a P/E ratio of 9.72, a P/E/G ratio of 1.17 and a beta of 1.89. The company has a fifty day moving average of $188.52 and a 200-day moving average of $195.43.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the firm posted $3.68 EPS. The firm’s revenue was up 29.4% compared to the same quarter last year. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 18.97 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $2.34 per share. This is an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s payout ratio is currently 20.29%.

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.