DekaBank Deutsche Girozentrale lowered its position in Diamondback Energy Inc (NASDAQ:FANG) by 48.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,343 shares of the oil and natural gas company’s stock after selling 23,599 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Diamondback Energy were worth $3,124,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in FANG. Bray Capital Advisors purchased a new stake in shares of Diamondback Energy in the third quarter valued at about $116,000. First Hawaiian Bank purchased a new stake in shares of Diamondback Energy in the third quarter valued at about $121,000. Captrust Financial Advisors grew its holdings in shares of Diamondback Energy by 99.8% in the second quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock valued at $131,000 after purchasing an additional 497 shares during the period. Wedbush Securities Inc. purchased a new stake in shares of Diamondback Energy in the second quarter valued at about $201,000. Finally, Private Advisor Group LLC acquired a new position in Diamondback Energy in the second quarter valued at about $204,000.
FANG has been the topic of a number of recent analyst reports. SunTrust Banks set a $175.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Thursday, August 16th. Northland Securities set a $175.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Thursday, August 16th. Stifel Nicolaus set a $166.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Wednesday, August 15th. Raymond James reaffirmed a “buy” rating and issued a $166.00 target price on shares of Diamondback Energy in a research report on Monday, August 13th. Finally, TD Securities set a $175.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Saturday, August 11th. Five analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Diamondback Energy presently has a consensus rating of “Buy” and an average price target of $159.73.
In other news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total transaction of $255,600.00. Following the sale, the vice president now owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.
Shares of FANG opened at $110.38 on Monday. The stock has a market cap of $11.18 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 0.64 and a beta of 0.70. Diamondback Energy Inc has a 1 year low of $103.51 and a 1 year high of $140.78. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.08 and a current ratio of 1.10.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.15. The business had revenue of $538.03 million for the quarter, compared to analysts’ expectations of $518.32 million. Diamondback Energy had a net margin of 33.63% and a return on equity of 10.75%. The business’s quarterly revenue was up 78.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. As a group, analysts predict that Diamondback Energy Inc will post 6.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Monday, November 19th were given a dividend of $0.125 per share. The ex-dividend date was Friday, November 16th. This represents a $0.50 annualized dividend and a dividend yield of 0.45%. Diamondback Energy’s dividend payout ratio is presently 9.43%.
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Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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