Diamondback Energy, Inc. $FANG Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,626,609 shares of the oil and natural gas company’s stock after selling 15,609 shares during the quarter. Bank of New York Mellon Corp’s holdings in Diamondback Energy were worth $662,068,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of Diamondback Energy by 18.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,281 shares of the oil and natural gas company’s stock worth $176,000 after purchasing an additional 196 shares in the last quarter. Signaturefd LLC grew its position in Diamondback Energy by 8.0% in the second quarter. Signaturefd LLC now owns 4,554 shares of the oil and natural gas company’s stock worth $626,000 after buying an additional 337 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Diamondback Energy by 36.5% in the second quarter. Avior Wealth Management LLC now owns 3,233 shares of the oil and natural gas company’s stock valued at $444,000 after buying an additional 864 shares in the last quarter. GC Wealth Management RIA LLC bought a new position in shares of Diamondback Energy in the second quarter valued at $288,000. Finally, Venture Visionary Partners LLC boosted its stake in shares of Diamondback Energy by 1.4% during the 2nd quarter. Venture Visionary Partners LLC now owns 12,054 shares of the oil and natural gas company’s stock worth $1,656,000 after acquiring an additional 172 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of recent analyst reports. Sanford C. Bernstein cut their target price on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Jefferies Financial Group restated a “hold” rating and set a $173.00 price objective on shares of Diamondback Energy in a report on Monday, January 19th. Barclays decreased their target price on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Wall Street Zen lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Finally, UBS Group raised their price objective on shares of Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $185.90.

Diamondback Energy Stock Performance

Shares of FANG opened at $160.27 on Thursday. The company has a market capitalization of $45.90 billion, a PE ratio of 11.14 and a beta of 0.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The company’s 50 day moving average price is $151.46 and its 200 day moving average price is $146.00. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $173.01.

Diamondback Energy (NASDAQ:FANG) last issued 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 net margin of 27.32% and a return on equity of 9.57%. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the business posted $3.19 EPS. The company’s revenue for the quarter was up 48.4% on a year-over-year basis. Research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, November 13th. Diamondback Energy’s dividend payout ratio is presently 27.80%.

Insiders Place Their Bets

In other news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the sale, the director directly owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. This trade represents a 26.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is currently owned by insiders.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.