Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Wilkinson Global Asset Management LLC

Wilkinson Global Asset Management LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,050 shares of the oil and natural gas company’s stock after selling 250 shares during the period. Wilkinson Global Asset Management LLC’s holdings in Diamondback Energy were worth $526,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in FANG. Blake Schutter Theil Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $226,000. Concurrent Investment Advisors LLC boosted its position in Diamondback Energy by 68.9% during the third quarter. Concurrent Investment Advisors LLC now owns 5,320 shares of the oil and natural gas company’s stock worth $917,000 after purchasing an additional 2,170 shares in the last quarter. Foster & Motley Inc. grew its holdings in Diamondback Energy by 6.6% in the third quarter. Foster & Motley Inc. now owns 6,688 shares of the oil and natural gas company’s stock valued at $1,153,000 after purchasing an additional 415 shares during the last quarter. Callahan Advisors LLC grew its holdings in Diamondback Energy by 1.4% in the third quarter. Callahan Advisors LLC now owns 6,419 shares of the oil and natural gas company’s stock valued at $1,107,000 after purchasing an additional 91 shares during the last quarter. Finally, One Plus One Wealth Management LLC increased its position in shares of Diamondback Energy by 16.3% in the third quarter. One Plus One Wealth Management LLC now owns 4,351 shares of the oil and natural gas company’s stock valued at $750,000 after buying an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 4.5 %

Shares of NASDAQ FANG opened at $183.62 on Thursday. The stock has a fifty day moving average price of $182.34 and a 200 day moving average price of $192.55. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The company has a market cap of $54.12 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.26 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its 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 company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 17.64%. Diamondback Energy’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $5.49 EPS. Research analysts anticipate that Diamondback Energy, Inc. will post 17.1 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.96%. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction 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 approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. KeyCorp decreased their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. StockNews.com lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Tuesday. UBS Group cut their price objective on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their target price for the company from $205.00 to $215.00 in a report on Friday, October 4th. Finally, Bank of America upped their price objective on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $209.64.

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.