Wilmington Savings Fund Society FSB Acquires Shares of 802 Diamondback Energy, Inc. (NASDAQ:FANG)

Wilmington Savings Fund Society FSB bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 802 shares of the oil and natural gas company’s stock, valued at approximately $138,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. World Investment Advisors LLC acquired a new stake in Diamondback Energy during the third quarter valued at $3,935,000. Sanctuary Advisors LLC raised its stake in shares of Diamondback Energy by 0.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 49,411 shares of the oil and natural gas company’s stock worth $9,155,000 after purchasing an additional 176 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Diamondback Energy by 11.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,027 shares of the oil and natural gas company’s stock valued at $349,000 after buying an additional 205 shares during the last quarter. Fulcrum Equity Management bought a new stake in shares of Diamondback Energy in the 3rd quarter valued at approximately $206,000. Finally, Virtu Financial LLC acquired a new position in Diamondback Energy in the third quarter worth approximately $1,215,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 stock was 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 $181,732,485.09. This trade represents a 92.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were 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 position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Down 1.9 %

Shares of FANG opened at $153.06 on Friday. 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 $176.44 and a two-hundred day moving average price of $186.92. The stock has a market cap of $44.69 billion, a price-to-earnings ratio of 8.76, a P/E/G ratio of 1.21 and a beta of 1.88. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business earned $5.49 EPS. Diamondback Energy’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts predict that Diamondback Energy, Inc. will post 16.28 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday. UBS Group lowered their target price on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Benchmark reiterated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.70.

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.