Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Lowered by Navellier & Associates Inc.

Navellier & Associates Inc. trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,360 shares of the oil and natural gas company’s stock after selling 381 shares during the period. Navellier & Associates Inc.’s holdings in Diamondback Energy were worth $1,614,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Diamondback Energy by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after acquiring an additional 2,381,488 shares in the last quarter. Boston Partners increased its position in shares of Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after acquiring an additional 1,916,900 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after acquiring an additional 439,579 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Diamondback Energy by 16.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after acquiring an additional 415,902 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Diamondback Energy by 280.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock worth $109,144,000 after purchasing an additional 402,026 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.8 %

Shares of FANG opened at $182.85 on Thursday. The stock has a market cap of $53.39 billion, a PE ratio of 10.39, a PEG ratio of 1.32 and a beta of 1.89. The stock has a 50 day simple moving average of $181.65 and a 200-day simple moving average of $191.00. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 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 analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion during 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 business’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $5.49 EPS. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 16.37 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.97%. Diamondback Energy’s payout ratio is presently 20.61%.

Insider Activity at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was 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 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 hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now owns 4,712 shares of the company’s stock, 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 currently owned by company insiders.

Analysts Set New Price Targets

FANG has been the subject of a number of research analyst reports. Benchmark restated a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. Scotiabank decreased their price objective on 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. Raymond James upped their target price on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a report on Tuesday. JPMorgan Chase & Co. started coverage on Diamondback Energy in a report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price objective for the company. Finally, Evercore ISI reduced their target price on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus target price of $212.00.

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.