Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by First National Bank of Hutchinson

First National Bank of Hutchinson decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 57.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,282 shares of the oil and natural gas company’s stock after selling 3,111 shares during the period. First National Bank of Hutchinson’s holdings in Diamondback Energy were worth $393,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FANG. Park Avenue Securities LLC grew its stake in Diamondback Energy by 6.8% in the 1st quarter. Park Avenue Securities LLC now owns 4,236 shares of the oil and natural gas company’s stock valued at $839,000 after acquiring an additional 269 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of Diamondback Energy during the 1st quarter worth approximately $292,000. Future Financial Wealth Managment LLC acquired a new position in shares of Diamondback Energy during the 1st quarter worth approximately $99,000. Wealthcare Advisory Partners LLC purchased a new stake in Diamondback Energy in the 1st quarter valued at approximately $233,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Diamondback Energy by 9.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,980 shares of the oil and natural gas company’s stock valued at $2,176,000 after buying an additional 967 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FANG shares. Scotiabank cut their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wolfe Research initiated coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Sanford C. Bernstein decreased their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 price objective on shares of Diamondback Energy in a research report on Tuesday, September 17th. Finally, Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $210.09.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $181.12 on Thursday. The firm has a fifty day moving average of $185.42 and a 200-day moving average of $194.34. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $32.30 billion, a P/E ratio of 10.21, a PEG ratio of 1.22 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the company earned $3.68 EPS. The firm’s revenue was up 29.4% on a year-over-year basis. As a group, analysts predict that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a dividend of $2.34 per share. This is an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. The ex-dividend date was Thursday, August 15th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

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.