Quest Partners LLC Has $794,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Quest Partners LLC cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,605 shares of the oil and natural gas company’s stock after selling 445 shares during the quarter. Quest Partners LLC’s holdings in Diamondback Energy were worth $794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FANG. Swiss National Bank lifted its holdings in shares of Diamondback Energy by 11.7% during the 3rd quarter. Swiss National Bank now owns 560,099 shares of the oil and natural gas company’s stock worth $96,561,000 after acquiring an additional 58,500 shares during the period. Concord Asset Management LLC VA boosted its holdings in shares of Diamondback Energy by 4.9% in the 3rd quarter. Concord Asset Management LLC VA now owns 2,945 shares of the oil and natural gas company’s stock valued at $508,000 after purchasing an additional 138 shares in the last quarter. Tower Bridge Advisors increased its stake in shares of Diamondback Energy by 20.0% in the 3rd quarter. Tower Bridge Advisors now owns 6,930 shares of the oil and natural gas company’s stock valued at $1,195,000 after purchasing an additional 1,154 shares during the last quarter. Atlanta Consulting Group Advisors LLC acquired a new position in shares of Diamondback Energy during the 3rd quarter worth $253,000. Finally, Mutual of America Capital Management LLC lifted its position in shares of Diamondback Energy by 2.6% during the 3rd quarter. Mutual of America Capital Management LLC now owns 23,098 shares of the oil and natural gas company’s stock worth $3,982,000 after buying an additional 588 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Diamondback Energy

In other news, 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 transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on 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 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 disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Analyst Ratings Changes

FANG has been the subject of a number of research reports. UBS Group dropped their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Wednesday, November 6th. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Raymond James boosted their price target on Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $212.00.

Diamondback Energy Price Performance

Shares of FANG opened at $182.92 on Friday. The business’s fifty day moving average is $181.89 and its 200 day moving average is $190.94. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market cap of $53.41 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.32 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. 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 prior year, the business earned $5.49 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 16.37 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend 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.