Pitcairn Co. Sells 847 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Pitcairn Co. cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,352 shares of the oil and natural gas company’s stock after selling 847 shares during the quarter. Pitcairn Co.’s holdings in Diamondback Energy were worth $1,440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FANG. Quent Capital LLC boosted its stake in Diamondback Energy by 7.2% during the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after acquiring an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC raised its holdings in shares of 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 purchasing an additional 55 shares during the period. Financial Advocates Investment Management boosted its position in shares of Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after purchasing an additional 55 shares in the last quarter. Sugarloaf Wealth Management LLC grew its stake in shares of Diamondback Energy by 0.3% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock valued at $3,999,000 after buying an additional 56 shares during the period. Finally, Versant Capital Management Inc increased its position in Diamondback Energy by 16.1% in the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after buying an additional 57 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FANG shares. Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Johnson Rice downgraded shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price objective on the stock. Finally, UBS Group decreased their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $212.00.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction dated 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 sale, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction dated 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 approximately $181,732,485.09. This represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $185.29 on Friday. The firm has a market capitalization of $54.10 billion, a PE ratio of 10.61, a P/E/G ratio of 1.34 and a beta of 1.89. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $182.15 and a two-hundred day moving average price of $190.72. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share 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 net margin of 33.64% and a return on equity of 13.68%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.49 earnings per share. Equities analysts forecast that Diamondback Energy, Inc. will post 16.35 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.94%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Diamondback Energy Company 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.