Vista Investment Partners LLC Has $516,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Vista Investment Partners LLC cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 36.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,991 shares of the oil and natural gas company’s stock after selling 1,735 shares during the period. Vista Investment Partners LLC’s holdings in Diamondback Energy were worth $516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quent Capital LLC raised 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 increased its position in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in Diamondback Energy by 0.3% during 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 purchasing an additional 56 shares during the last quarter. Versant Capital Management Inc grew its stake in Diamondback Energy by 16.1% during the second quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock worth $82,000 after buying an additional 57 shares during the last quarter. Finally, Confluence Investment Management LLC increased its holdings in shares of Diamondback Energy by 1.6% during the second quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock worth $734,000 after buying an additional 58 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.8 %

Diamondback Energy stock opened at $183.96 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The firm has a market capitalization of $32.81 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.22 and a beta of 1.89. The company’s 50 day simple moving average is $186.67 and its 200 day simple moving average is $194.92.

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

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $2.34 per share. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. Diamondback Energy’s payout ratio is 20.29%.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

FANG has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on Diamondback Energy from $230.00 to $219.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $205.00 to $215.00 in a report on Friday, October 4th. Bank of America raised their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price target on the stock. Finally, Morgan Stanley raised their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average price target of $210.32.

About Diamondback Energy

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.