Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Private Trust Co. NA

Private Trust Co. NA decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,447 shares of the oil and natural gas company’s stock after selling 62 shares during the quarter. Private Trust Co. NA’s holdings in Diamondback Energy were worth $249,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Diamondback Energy by 178.1% in 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 in the last quarter. Atria Investments Inc raised its stake in Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after buying an additional 6,672 shares in the last quarter. Cullen Investment Group LTD. raised its stake in Diamondback Energy by 33.5% during the third 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 buying an additional 3,008 shares in the last quarter. ORG Partners LLC raised its stake in Diamondback Energy by 2,768.9% during the second quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock valued at $883,000 after buying an additional 4,181 shares in the last quarter. Finally, Integrated Investment Consultants LLC acquired a new stake in Diamondback Energy during the third quarter valued at approximately $4,464,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value 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. This trade represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on FANG. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Jefferies Financial Group began coverage on Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price objective on the stock. UBS Group cut their price objective on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. began coverage on Diamondback Energy in a report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average target price of $212.00.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $176.19 on Friday. The stock has a fifty day moving average price of $182.02 and a two-hundred day moving average price of $190.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market cap of $51.45 billion, a P/E ratio of 10.09, a PEG ratio of 1.32 and a beta of 1.89. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.49 earnings per share. Research analysts forecast that Diamondback Energy, Inc. will post 16.26 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.04%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Diamondback Energy Company 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.