SevenBridge Financial Group LLC Buys 176 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

SevenBridge Financial Group LLC boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.0% in the third quarter, Holdings Channel.com reports. The firm owned 18,398 shares of the oil and natural gas company’s stock after acquiring an additional 176 shares during the period. SevenBridge Financial Group LLC’s holdings in Diamondback Energy were worth $3,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FANG. Natixis bought a new stake in shares of Diamondback Energy in the first quarter worth $195,000. Axxcess Wealth Management LLC bought a new stake in Diamondback Energy during the 1st quarter worth about $219,000. Canada Pension Plan Investment Board boosted its stake in shares of Diamondback Energy by 2,268.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 143,176 shares of the oil and natural gas company’s stock worth $28,373,000 after buying an additional 137,131 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Diamondback Energy by 19.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 6,100 shares of the oil and natural gas company’s stock valued at $1,209,000 after acquiring an additional 1,000 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at about $78,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Citigroup assumed coverage on shares of Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Wednesday, November 6th. Raymond James increased their price objective on shares of Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 19th. Finally, StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. 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 one has assigned a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $212.00.

Insider Activity at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated 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 directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred 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 sale, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $185.29 on Friday. The company’s fifty day simple moving average is $182.15 and its two-hundred day simple moving average is $190.72. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The firm has a market cap of $54.10 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.34 and a beta of 1.89. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business 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 period in the previous year, the business earned $5.49 earnings per share. As a group, equities analysts expect that Diamondback Energy, Inc. will post 16.35 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.94%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

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.