ExodusPoint Capital Management LP Sells 101,782 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

ExodusPoint Capital Management LP trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 18.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 448,377 shares of the oil and natural gas company’s stock after selling 101,782 shares during the period. Diamondback Energy makes up about 0.5% of ExodusPoint Capital Management LP’s investment portfolio, making the stock its 17th biggest position. ExodusPoint Capital Management LP’s holdings in Diamondback Energy were worth $58,899,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in FANG. Scissortail Wealth Management LLC bought a new stake in shares of Diamondback Energy in the 1st quarter valued at approximately $5,410,371,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Diamondback Energy by 264.3% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 204 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 148 shares during the last quarter. Dividend Assets Capital LLC acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth approximately $28,000. FinTrust Capital Advisors LLC raised its stake in shares of Diamondback Energy by 232.8% during the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 149 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC boosted its stake in Diamondback Energy by 366.7% in the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 176 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 0.2 %

Shares of NASDAQ FANG traded down $0.25 during mid-day trading on Monday, hitting $155.90. The company had a trading volume of 502,579 shares, compared to its average volume of 2,067,514. Diamondback Energy, Inc. has a one year low of $119.01 and a one year high of $171.40. The company has a market capitalization of $27.90 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 0.39 and a beta of 1.98. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The firm has a 50-day simple moving average of $157.86 and a two-hundred day simple moving average of $145.06.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $5.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.90 by $0.59. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.21 billion. Diamondback Energy had a return on equity of 20.66% and a net margin of 38.84%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $6.48 earnings per share. On average, equities analysts expect that Diamondback Energy, Inc. will post 18.23 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, November 16th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Wednesday, November 15th. Diamondback Energy’s dividend payout ratio (DPR) is presently 19.07%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, EVP Matt Zmigrosky sold 2,706 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $157.17, for a total transaction of $425,302.02. Following the transaction, the executive vice president now owns 27,480 shares of the company’s stock, valued at $4,319,031.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Diamondback Energy news, Director David L. Houston sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 11,565 shares in the company, valued at $1,810,385.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matt Zmigrosky sold 2,706 shares of the business’s 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 sale, 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. 0.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FANG shares. Bank of America increased their price target on Diamondback Energy from $140.00 to $145.00 in a research note on Wednesday, September 27th. StockNews.com started coverage on Diamondback Energy in a research report on Thursday, October 5th. They set a “hold” rating for the company. KeyCorp upped their price target on Diamondback Energy from $171.00 to $183.00 and gave the company an “overweight” rating in a research note on Tuesday, October 17th. Stifel Nicolaus lifted their price objective on shares of Diamondback Energy from $178.00 to $179.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $170.00 price objective on shares of Diamondback Energy in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $184.41.

Diamondback Energy 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.