Oppenheimer Asset Management Inc. Purchases 10,626 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Oppenheimer Asset Management Inc. raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 23.3% during the third quarter, Holdings Channel reports. The fund owned 56,164 shares of the oil and natural gas company’s stock after acquiring an additional 10,626 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Diamondback Energy were worth $9,683,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. MQS Management LLC bought a new position in Diamondback Energy in the 3rd quarter worth $615,000. Haverford Trust Co increased its stake in shares of Diamondback Energy by 4.6% in the third quarter. Haverford Trust Co now owns 1,598 shares of the oil and natural gas company’s stock worth $275,000 after purchasing an additional 71 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Diamondback Energy by 14.5% during the 3rd quarter. Victory Capital Management Inc. now owns 749,104 shares of the oil and natural gas company’s stock valued at $129,146,000 after purchasing an additional 94,656 shares during the period. Aptus Capital Advisors LLC lifted its stake in shares of Diamondback Energy by 16.4% during the 3rd quarter. Aptus Capital Advisors LLC now owns 120,714 shares of the oil and natural gas company’s stock valued at $20,811,000 after buying an additional 17,033 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its holdings in Diamondback Energy by 19.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 13,867 shares of the oil and natural gas company’s stock worth $2,391,000 after buying an additional 2,281 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’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 transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FANG shares. Susquehanna lowered their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. KeyCorp dropped their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. UBS Group lowered their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Benchmark reaffirmed a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group started coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.64.

Diamondback Energy Price Performance

Shares of FANG opened at $182.24 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a 50 day moving average price of $181.30 and a 200-day moving average price of $191.76. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The stock has a market capitalization of $53.21 billion, a PE ratio of 10.43, a PEG ratio of 1.27 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced 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 company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business posted $5.49 EPS. Equities analysts predict that Diamondback Energy, Inc. will post 17 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

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.