Banco Bilbao Vizcaya Argentaria S.A. Reduces Stock Position in Diamondback Energy, Inc. $FANG

Banco Bilbao Vizcaya Argentaria S.A. cut its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 70.5% during the second quarter, Holdings Channel reports. The firm owned 5,740 shares of the oil and natural gas company’s stock after selling 13,750 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Diamondback Energy were worth $787,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of FANG. Boston Partners increased its holdings in Diamondback Energy by 2.6% in the 2nd quarter. Boston Partners now owns 5,562,216 shares of the oil and natural gas company’s stock worth $765,846,000 after buying an additional 143,376 shares during the period. Geode Capital Management LLC increased its stake in shares of Diamondback Energy by 2.7% in the second quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock worth $746,526,000 after acquiring an additional 142,649 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Diamondback Energy by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after purchasing an additional 384,971 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Diamondback Energy by 4.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company’s stock worth $468,846,000 after purchasing an additional 114,930 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Diamondback Energy by 27.3% during the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock valued at $311,792,000 after purchasing an additional 418,431 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 1.9%

Shares of FANG opened at $146.37 on Tuesday. The firm has a market cap of $41.94 billion, a P/E ratio of 10.17 and a beta of 0.99. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $186.07. The stock’s 50 day moving average is $142.70 and its two-hundred day moving average is $142.24. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the firm posted $3.19 EPS. The business’s revenue was up 48.4% on a year-over-year basis. Analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 13th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, November 13th. Diamondback Energy’s dividend payout ratio is 27.80%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FANG shares. Barclays reduced their price objective on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. William Blair assumed coverage on Diamondback Energy in a research report on Monday, August 25th. They set an “outperform” rating for the company. Evercore ISI boosted their price target on Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Melius Research assumed coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective on the stock. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $173.00 target price on shares of Diamondback Energy in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Buy” and a consensus price target of $188.95.

Diamondback Energy 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.