Diamondback Energy, Inc. (NASDAQ:FANG) Stock Position Cut by Foster & Motley Inc.

Foster & Motley Inc. trimmed its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,273 shares of the oil and natural gas company’s stock after selling 219 shares during the quarter. Foster & Motley Inc.’s holdings in Diamondback Energy were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in FANG. Founders Capital Management increased its stake in shares of Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after acquiring an additional 101 shares during the period. First Community Trust NA acquired a new stake in shares of Diamondback Energy in the second quarter valued at $26,000. Logan Capital Management Inc. bought a new position in Diamondback Energy during the fourth quarter valued at about $31,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Diamondback Energy during the first quarter worth about $49,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Diamondback Energy in the fourth quarter worth about $54,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FANG shares. Wolfe Research assumed coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. 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 report on Wednesday, July 17th. KeyCorp began coverage on Diamondback Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $220.00 target price on shares of Diamondback Energy in a report on Tuesday, August 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $154.00 target price on shares of Diamondback Energy in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

Diamondback Energy Stock Down 0.1 %

Diamondback Energy stock opened at $184.01 on Friday. Diamondback Energy, Inc. has a twelve month low of $143.08 and a twelve month high of $214.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The firm has a market cap of $32.82 billion, a PE ratio of 10.37, a P/E/G ratio of 1.23 and a beta of 1.90. The firm’s 50 day moving average price is $198.45 and its two-hundred day moving average price is $195.81.

Diamondback Energy (NASDAQ:FANG) last posted 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. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. Diamondback Energy’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.68 earnings per share. On average, research analysts predict that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

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.