RPG Investment Advisory LLC Lowers Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

RPG Investment Advisory LLC cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 1.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,826 shares of the oil and natural gas company’s stock after selling 936 shares during the period. Diamondback Energy accounts for 1.9% of RPG Investment Advisory LLC’s holdings, making the stock its 20th biggest position. RPG Investment Advisory LLC’s holdings in Diamondback Energy were worth $13,072,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in Diamondback Energy by 178.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after acquiring an additional 19,552 shares during the period. Cullen Investment Group LTD. raised its position in Diamondback Energy by 33.5% during the third quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock worth $2,065,000 after acquiring an additional 3,008 shares during the period. ORG Partners LLC raised its position in Diamondback Energy by 2,768.9% during the second quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock worth $883,000 after acquiring an additional 4,181 shares during the period. Homestead Advisers Corp acquired a new position in Diamondback Energy during the first quarter worth $87,940,000. Finally, Clearbridge Investments LLC acquired a new position in Diamondback Energy during the first quarter worth $40,533,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Up 0.4 %

Shares of FANG stock opened at $179.91 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market cap of $52.53 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 1.26 and a beta of 1.89. The company has a 50-day moving average of $181.45 and a two-hundred day moving average of $191.96. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANGGet Free Report) 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 company 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 company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $5.49 EPS. On average, analysts predict that Diamondback Energy, Inc. will post 17 EPS for the current 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 paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Activity

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Scotiabank reduced their price objective on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. JPMorgan Chase & Co. started coverage on shares of Diamondback Energy in a research report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 target price for the company. Sanford C. Bernstein reduced their target price on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, Bank of America increased their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $209.64.

Get Our Latest Stock Analysis on Diamondback Energy

Diamondback Energy Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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