Rakuten Securities Inc. Cuts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Rakuten Securities Inc. lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 28.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170 shares of the oil and natural gas company’s stock after selling 67 shares during the quarter. Rakuten Securities Inc.’s holdings in Diamondback Energy were worth $29,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Diamondback Energy by 3.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 433,607 shares of the oil and natural gas company’s stock worth $74,754,000 after buying an additional 16,348 shares in the last quarter. Apollon Wealth Management LLC lifted its position in Diamondback Energy by 10.3% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,695 shares of the oil and natural gas company’s stock valued at $465,000 after acquiring an additional 251 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Diamondback Energy by 24.8% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 8,540 shares of the oil and natural gas company’s stock valued at $1,472,000 after purchasing an additional 1,697 shares during the last quarter. Laffer Tengler Investments Inc. increased its holdings in shares of Diamondback Energy by 3.4% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 13,799 shares of the oil and natural gas company’s stock worth $2,379,000 after purchasing an additional 460 shares in the last quarter. Finally, Versor Investments LP purchased a new position in shares of Diamondback Energy in the third quarter worth $3,055,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. began coverage on Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price objective on the stock. KeyCorp reduced their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Susquehanna lowered their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $205.00 to $215.00 in a report on Friday, October 4th. Finally, Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.64.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.48% of the stock is owned by insiders.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $179.91 on Wednesday. The stock has a market cap of $53.03 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 1.28 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. The firm has a fifty day moving average price of $181.45 and a 200-day moving average price of $191.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 3.64.

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 business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.49 EPS. Equities analysts anticipate that Diamondback Energy, Inc. will post 17 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

About Diamondback Energy

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.