Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by CENTRAL TRUST Co

CENTRAL TRUST Co lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,975 shares of the oil and natural gas company’s stock after acquiring an additional 64 shares during the quarter. CENTRAL TRUST Co’s holdings in Diamondback Energy were worth $7,926,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FANG. First Community Trust NA acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $26,000. Carolinas Wealth Consulting LLC lifted its stake in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the second quarter worth about $40,000. Founders Capital Management increased its position in shares of Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 125 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group raised its holdings in shares of Diamondback Energy by 109.7% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 136 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FANG has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Susquehanna dropped their price target on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Sanford C. Bernstein reduced their price objective on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Benchmark lifted their target price on Diamondback Energy from $154.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Johnson Rice lowered shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Insider Buying and Selling

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy 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 transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.48% of the stock is owned by insiders.

Diamondback Energy Price Performance

NASDAQ FANG opened at $181.12 on Thursday. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The stock’s 50-day moving average is $185.42 and its two-hundred day moving average is $194.34. The firm has a market cap of $32.30 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same period last year, the business earned $3.68 EPS. On average, analysts anticipate that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $2.34 dividend. This represents a dividend yield of 1.9%. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. Diamondback Energy’s payout ratio is presently 20.29%.

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.