Diamondback Energy Inc (NASDAQ:FANG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in shares of Diamondback Energy Inc (NASDAQ:FANG) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,308,658 shares of the oil and natural gas company’s stock after selling 63,838 shares during the period. Bank of New York Mellon Corp owned 0.82% of Diamondback Energy worth $121,523,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan grew its holdings in Diamondback Energy by 3.3% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 5,370 shares of the oil and natural gas company’s stock valued at $499,000 after purchasing an additional 170 shares in the last quarter. Fruth Investment Management boosted its holdings in shares of Diamondback Energy by 7.7% in the fourth quarter. Fruth Investment Management now owns 2,479 shares of the oil and natural gas company’s stock worth $230,000 after buying an additional 178 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in shares of Diamondback Energy by 5.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 3,439 shares of the oil and natural gas company’s stock worth $312,000 after buying an additional 188 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Diamondback Energy by 15.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,512 shares of the oil and natural gas company’s stock worth $140,000 after buying an additional 199 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Diamondback Energy by 21.4% in the fourth quarter. Parallel Advisors LLC now owns 1,519 shares of the oil and natural gas company’s stock worth $141,000 after buying an additional 268 shares during the period. 96.90% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Travis D. Stice bought 17,146 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average price of $28.40 per share, with a total value of $486,946.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Hof Matthew Kaes Van’t bought 4,750 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average cost of $17.23 per share, for a total transaction of $81,842.50. Following the transaction, the chief financial officer now directly owns 52,130 shares of the company’s stock, valued at approximately $898,199.90. The disclosure for this purchase can be found here. Company insiders own 0.47% of the company’s stock.

Several research analysts have commented on the stock. Siebert Williams Shank reiterated a “buy” rating and issued a $136.00 target price on shares of Diamondback Energy in a report on Wednesday, February 19th. Morgan Stanley cut shares of Diamondback Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, March 16th. Barclays decreased their price target on shares of Diamondback Energy from $189.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, December 6th. SunTrust Banks cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Bank of America reiterated a “buy” rating and issued a $125.00 target price on shares of Diamondback Energy in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $109.72.

NASDAQ:FANG opened at $24.12 on Wednesday. Diamondback Energy Inc has a 12 month low of $14.55 and a 12 month high of $114.14. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 0.15 and a beta of 1.09. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $55.15 and its 200-day moving average is $78.54.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 18th. The oil and natural gas company reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.13. Diamondback Energy had a net margin of 6.05% and a return on equity of 7.00%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $1.21 earnings per share. The company’s quarterly revenue was up 74.4% compared to the same quarter last year. Research analysts predict that Diamondback Energy Inc will post 6.21 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd were given a $0.375 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.22%. Diamondback Energy’s dividend payout ratio (DPR) is currently 21.65%.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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