Haverford Trust Co Raises Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Haverford Trust Co lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.6% in the third quarter, HoldingsChannel reports. The firm owned 1,598 shares of the oil and natural gas company’s stock after purchasing an additional 71 shares during the quarter. Haverford Trust Co’s holdings in Diamondback Energy were worth $275,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. First Community Trust NA purchased a new position in shares of Diamondback Energy in the 2nd quarter worth $26,000. Carolinas Wealth Consulting LLC increased 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 worth $27,000 after acquiring an additional 55 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in Diamondback Energy during the second quarter valued at approximately $40,000. Values First Advisors Inc. bought a new stake in shares of Diamondback Energy in the 3rd quarter valued at approximately $42,000. Finally, Founders Capital Management boosted its holdings in shares of Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG opened at $182.42 on Friday. The company has a 50 day moving average of $181.26 and a two-hundred day moving average of $191.70. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a market cap of $53.26 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 1.27 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.49 earnings per share. As a group, analysts predict that Diamondback Energy, Inc. will post 17 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on FANG. Truist Financial lifted their price objective on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price target for the company. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. Susquehanna cut their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Finally, Citigroup initiated coverage on Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price objective for the company. One investment 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. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus 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.