3,505 Diamondback Energy, Inc. $FANG Shares Acquired by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 12.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 30,633 shares of the oil and natural gas company’s stock after acquiring an additional 3,505 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Diamondback Energy were worth $5,631,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Transamerica Financial Advisors LLC grew its holdings in shares of Diamondback Energy by 21.0% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 294 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 51 shares in the last quarter. Capital Advisors Inc. OK increased its position in shares of Diamondback Energy by 2.9% in the second quarter. Capital Advisors Inc. OK now owns 1,929 shares of the oil and natural gas company’s stock valued at $339,000 after acquiring an additional 54 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in Diamondback Energy by 4.9% during the second quarter. Rehmann Capital Advisory Group now owns 1,251 shares of the oil and natural gas company’s stock worth $220,000 after acquiring an additional 59 shares in the last quarter. Wedbush Securities Inc. raised its holdings in Diamondback Energy by 1.5% during the second quarter. Wedbush Securities Inc. now owns 4,979 shares of the oil and natural gas company’s stock worth $875,000 after acquiring an additional 72 shares in the last quarter. Finally, Wealth Intelligence LLC raised its holdings in Diamondback Energy by 3.0% during the third quarter. Wealth Intelligence LLC now owns 2,444 shares of the oil and natural gas company’s stock worth $449,000 after acquiring an additional 72 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 0.7%

Diamondback Energy stock opened at $200.93 on Thursday. The firm has a market capitalization of $56.27 billion, a PE ratio of 39.17 and a beta of 0.55. The company’s 50-day moving average is $197.33 and its 200-day moving average is $194.36. Diamondback Energy, Inc. has a fifty-two week low of $137.03 and a fifty-two week high of $216.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the firm earned $2.38 EPS. Diamondback Energy’s quarterly revenue was up 51.2% compared to the same quarter last year. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 21.04 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a dividend of $1.10 per share. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy’s dividend payout ratio (DPR) is presently 85.77%.

Wall Street Analysts Forecast Growth

FANG has been the subject of several recent research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $240.00 price target on shares of Diamondback Energy in a research report on Wednesday, October 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $240.00 price target (up from $221.00) on shares of Diamondback Energy in a research report on Wednesday, September 2nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $215.00 price target (up from $205.00) on shares of Diamondback Energy in a research report on Sunday, October 11th. Wall Street Zen upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Finally, Citigroup cut their price objective on Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.71.

Insider Buying and Selling

In other Diamondback Energy news, Director Charles Meloy sold 33,333 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $183.74, for a total transaction of $6,124,605.42. Following the transaction, the director owned 759,864 shares of the company’s stock, valued at $139,617,411.36. The trade was a 4.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis Stice sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $204.31, for a total value of $15,323,250.00. Following the completion of the sale, the director owned 49,727 shares in the company, valued at $10,159,723.37. This represents a 60.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 141,666 shares of company stock worth $28,061,456. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. The company’s operations are concentrated in the Permian Basin of West Texas and southeastern New Mexico, particularly the Midland and Delaware Basins.

Diamondback produces crude oil, natural gas and natural gas liquids from horizontal wells and related infrastructure. Its activities include drilling and completing wells, operating gathering and processing assets, and managing midstream services that support production.