ORG Partners LLC Reduces Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

ORG Partners LLC cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 39.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,624 shares of the oil and natural gas company’s stock after selling 1,708 shares during the period. ORG Partners LLC’s holdings in Diamondback Energy were worth $453,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Diamondback Energy by 178.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after acquiring an additional 19,552 shares during the last quarter. Central Valley Advisors LLC purchased a new stake in Diamondback Energy during the 1st quarter worth approximately $1,801,000. Cullen Investment Group LTD. raised its position in shares of Diamondback Energy by 33.5% in the 3rd quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after purchasing an additional 3,008 shares in the last quarter. Homestead Advisers Corp purchased a new position in shares of Diamondback Energy during the 1st quarter valued at approximately $87,940,000. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of Diamondback Energy during the first quarter worth approximately $5,148,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Down 2.2 %

FANG opened at $190.70 on Tuesday. The stock’s 50 day moving average price is $187.31 and its 200 day moving average price is $195.21. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a market cap of $34.01 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.22 and a beta of 1.89. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period last year, the company earned $3.68 earnings per share. As a group, research analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $2.34 dividend. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Wall Street Analyst Weigh In

FANG has been the topic of several recent analyst reports. Sanford C. Bernstein cut their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Morgan Stanley increased their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. KeyCorp began coverage on Diamondback Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $225.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $220.00 price objective on shares of Diamondback Energy in a research note on Tuesday, September 17th. Finally, Susquehanna decreased their target price on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.73.

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.