OLD National Bancorp IN Decreases Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

OLD National Bancorp IN lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 44.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,500 shares of the oil and natural gas company’s stock after selling 13,110 shares during the period. OLD National Bancorp IN’s holdings in Diamondback Energy were worth $2,703,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in Diamondback Energy during the fourth quarter worth about $29,000. UMB Bank n.a. boosted its position in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the period. Values First Advisors Inc. bought a new position in Diamondback Energy during the third quarter worth about $42,000. CVA Family Office LLC boosted its position in Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in Diamondback Energy during the third quarter worth about $52,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FANG. UBS Group cut their price objective on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. KeyCorp cut their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Raymond James lifted their target price on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $215.00.

Diamondback Energy Stock Down 0.3 %

Shares of NASDAQ FANG opened at $170.41 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50. The firm has a market capitalization of $49.76 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. The firm has a fifty day simple moving average of $169.65 and a two-hundred day simple moving average of $181.40.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data 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). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.49 earnings per share. Equities analysts expect that Diamondback Energy, Inc. will post 15.58 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

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.