Peterson Wealth Services Sells 19,517 Shares of Diamondback Energy, Inc. $FANG

Peterson Wealth Services reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 69.1% during the third quarter, HoldingsChannel reports. The firm owned 8,744 shares of the oil and natural gas company’s stock after selling 19,517 shares during the period. Peterson Wealth Services’ holdings in Diamondback Energy were worth $1,251,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FANG. Smead Capital Management Inc. bought a new stake in Diamondback Energy during the second quarter valued at $144,775,000. Vanguard Group Inc. lifted its stake in shares of Diamondback Energy by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock valued at $3,204,894,000 after purchasing an additional 388,512 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Diamondback Energy by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock valued at $637,841,000 after purchasing an additional 384,971 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Diamondback Energy by 44.8% during the 2nd quarter. American Century Companies Inc. now owns 985,844 shares of the oil and natural gas company’s stock valued at $135,456,000 after purchasing an additional 305,207 shares in the last quarter. Finally, Apollo Management Holdings L.P. acquired a new stake in Diamondback Energy during the second quarter worth approximately $31,937,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of Diamondback Energy stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the transaction, the director owned 1,044,864 shares in the company, valued at approximately $144,828,599.04. The trade was a 26.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays dropped their price target on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Wall Street Zen lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Morgan Stanley cut their target price on shares of Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $173.00 price target on shares of Diamondback Energy in a research note on Friday, October 10th. Finally, Susquehanna dropped their price objective on shares of Diamondback Energy to $188.00 and set a “positive” rating on the stock in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.90.

Diamondback Energy Stock Performance

FANG opened at $158.64 on Tuesday. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $168.48. The company has a market cap of $45.43 billion, a price-to-earnings ratio of 11.02 and a beta of 0.63. The company’s fifty day moving average price is $152.37 and its two-hundred day moving average price is $146.52. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period last year, the company earned $3.19 earnings per share. The business’s revenue was up 48.4% on a year-over-year basis. On average, analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub?basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.