Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by American National Bank

American National Bank grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 37.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,244 shares of the oil and natural gas company’s stock after purchasing an additional 1,957 shares during the period. American National Bank’s holdings in Diamondback Energy were worth $952,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Journey Strategic Wealth LLC lifted its holdings in Diamondback Energy by 9.1% in the first quarter. Journey Strategic Wealth LLC now owns 1,697 shares of the oil and natural gas company’s stock valued at $229,000 after acquiring an additional 141 shares during the period. Vestmark Advisory Solutions Inc. lifted its stake in shares of Diamondback Energy by 10.1% in the first quarter. Vestmark Advisory Solutions Inc. now owns 17,515 shares of the oil and natural gas company’s stock valued at $2,368,000 after purchasing an additional 1,603 shares during the period. Checchi Capital Advisers LLC boosted its holdings in Diamondback Energy by 31.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 2,404 shares of the oil and natural gas company’s stock worth $329,000 after buying an additional 574 shares in the last quarter. CIBC Asset Management Inc grew its position in Diamondback Energy by 79.4% during the fourth quarter. CIBC Asset Management Inc now owns 43,729 shares of the oil and natural gas company’s stock worth $5,981,000 after buying an additional 19,355 shares during the period. Finally, Metis Global Partners LLC increased its holdings in Diamondback Energy by 47.5% in the first quarter. Metis Global Partners LLC now owns 5,337 shares of the oil and natural gas company’s stock valued at $721,000 after buying an additional 1,718 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 0.3 %

Shares of Diamondback Energy stock opened at $156.26 on Tuesday. Diamondback Energy, Inc. has a 1-year low of $110.97 and a 1-year high of $168.95. The company has a market capitalization of $27.94 billion, a PE ratio of 8.11, a P/E/G ratio of 0.41 and a beta of 2.04. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.43 and a quick ratio of 0.40. The business has a 50-day moving average of $147.77 and a 200-day moving average of $138.52.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, July 31st. The oil and natural gas company reported $3.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.92 by ($0.24). The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Diamondback Energy had a return on equity of 22.43% and a net margin of 41.62%. Diamondback Energy’s revenue for the quarter was down 30.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.07 earnings per share. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 17.48 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 10th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.15%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Wednesday, August 9th. Diamondback Energy’s dividend payout ratio is 17.44%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FANG. Raymond James raised their price objective on Diamondback Energy from $173.00 to $191.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 14th. Morgan Stanley raised their price target on Diamondback Energy from $154.00 to $163.00 and gave the company an “overweight” rating in a research report on Friday, August 18th. UBS Group boosted their price objective on shares of Diamondback Energy from $161.00 to $191.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. StockNews.com assumed coverage on shares of Diamondback Energy in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Wells Fargo & Company upped their target price on Diamondback Energy from $163.00 to $168.00 and gave the company an “overweight” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.65.

Insider Transactions at Diamondback Energy

In other news, Director David L. Houston sold 8,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $156.54, for a total transaction of $1,252,320.00. Following the transaction, the director now owns 11,565 shares of the company’s stock, valued at $1,810,385.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Diamondback Energy news, Director David L. Houston sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $156.54, for a total transaction of $1,252,320.00. Following the sale, the director now owns 11,565 shares in the company, valued at $1,810,385.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Matt Zmigrosky sold 2,706 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $157.17, for a total value of $425,302.02. Following the completion of the transaction, the executive vice president now owns 27,480 shares of the company’s stock, valued at approximately $4,319,031.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,518 shares of company stock valued at $5,695,092. Insiders own 0.43% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.