Peapack Gladstone Financial Corp Sells 1,864 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Peapack Gladstone Financial Corp reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 54.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,549 shares of the oil and natural gas company’s stock after selling 1,864 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Diamondback Energy were worth $267,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Carolinas Wealth Consulting LLC raised its stake in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC bought a new stake in Diamondback Energy in the second quarter worth about $40,000. Values First Advisors Inc. purchased a new position in Diamondback Energy in the third quarter valued at about $42,000. CVA Family Office LLC grew its position in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after acquiring an additional 65 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group increased its stake in shares of Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Raymond James increased their price objective on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 19th. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price target for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Johnson Rice lowered shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group started coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $211.52.

Insider Activity at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, 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 disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Down 2.7 %

Shares of FANG opened at $158.93 on Tuesday. Diamondback Energy, Inc. has a 1 year low of $147.93 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a 50 day simple moving average of $178.68 and a two-hundred day simple moving average of $187.65. The firm has a market cap of $46.41 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.21 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business 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%. Diamondback Energy’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $5.49 EPS. On average, analysts forecast that Diamondback Energy, Inc. will post 16.28 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

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.