Americana Partners LLC Purchases 199 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Americana Partners LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,136 shares of the oil and natural gas company’s stock after acquiring an additional 199 shares during the quarter. Americana Partners LLC’s holdings in Diamondback Energy were worth $2,265,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FANG. First Community Trust NA bought a new stake in Diamondback Energy during the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC lifted its holdings in 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 valued at $27,000 after buying an additional 55 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in Diamondback Energy during the 2nd quarter valued at about $40,000. Values First Advisors Inc. bought a new stake in Diamondback Energy during the 3rd quarter valued at about $42,000. Finally, Founders Capital Management lifted its holdings in Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after buying an additional 125 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FANG shares. Morgan Stanley lifted their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. Sanford C. Bernstein reduced their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Finally, KeyCorp cut their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.09.

Diamondback Energy Stock Performance

FANG opened at $175.81 on Friday. 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 fifty day moving average price of $183.29 and a 200 day moving average price of $193.06. The stock has a market cap of $51.82 billion, a P/E ratio of 9.09, a P/E/G ratio of 1.23 and a beta of 1.89. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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 company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.68 earnings per share. Equities research analysts anticipate that Diamondback Energy, Inc. will post 17.21 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed 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 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 dividend payout ratio is currently 18.60%.

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.