Smithfield Trust Co Sells 205 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Smithfield Trust Co lowered its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 47.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 225 shares of the oil and natural gas company’s stock after selling 205 shares during the quarter. Smithfield Trust Co’s holdings in Diamondback Energy were worth $39,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Diamondback Energy by 178.1% during the 2nd 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 purchasing an additional 19,552 shares in the last quarter. Atria Investments Inc raised its position 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 worth $7,358,000 after acquiring an additional 6,672 shares in the last quarter. Cullen Investment Group LTD. raised its position 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 worth $2,065,000 after acquiring an additional 3,008 shares in the last quarter. ORG Partners LLC lifted its stake in Diamondback Energy by 2,768.9% in 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 acquiring an additional 4,181 shares during the last quarter. Finally, Parkside Investments LLC bought a new position in shares of Diamondback Energy in the 2nd quarter valued at about $601,000. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s 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 transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 92.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

FANG has been the topic of a number of research analyst reports. Evercore ISI dropped their target price on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. KeyCorp dropped their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Citigroup started coverage on Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 target price on the stock. 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 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

Diamondback Energy Stock Up 1.4 %

Shares of NASDAQ FANG opened at $185.29 on Friday. The stock has a market capitalization of $54.10 billion, a P/E ratio of 10.61, a PEG ratio of 1.32 and a beta of 1.89. The stock’s fifty day moving average is $182.15 and its 200 day moving average is $190.81. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

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 firm had revenue of $2.65 billion during 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 quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $5.49 earnings per share. Sell-side analysts forecast that Diamondback Energy, Inc. will post 16.37 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 1.94%. Diamondback Energy’s dividend payout ratio is currently 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.