Diamondback Energy, Inc. $FANG Shares Bought by Private Trust Co. NA

Private Trust Co. NA raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 13.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,796 shares of the oil and natural gas company’s stock after acquiring an additional 214 shares during the quarter. Private Trust Co. NA’s holdings in Diamondback Energy were worth $247,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FANG. Blue Trust Inc. boosted its stake in Diamondback Energy by 18.4% in the first quarter. Blue Trust Inc. now owns 2,453 shares of the oil and natural gas company’s stock valued at $392,000 after acquiring an additional 381 shares in the last quarter. Avior Wealth Management LLC lifted its stake in shares of Diamondback Energy by 85.7% during the first quarter. Avior Wealth Management LLC now owns 2,369 shares of the oil and natural gas company’s stock worth $379,000 after buying an additional 1,093 shares during the period. PFG Investments LLC lifted its stake in shares of Diamondback Energy by 15.0% during the first quarter. PFG Investments LLC now owns 2,328 shares of the oil and natural gas company’s stock worth $372,000 after buying an additional 303 shares during the period. Heartland Bank & Trust Co lifted its stake in shares of Diamondback Energy by 19.5% during the first quarter. Heartland Bank & Trust Co now owns 1,762 shares of the oil and natural gas company’s stock worth $282,000 after buying an additional 287 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Diamondback Energy during the first quarter worth $877,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the transaction, the chairman owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Diamondback Energy Trading Up 1.5%

NASDAQ FANG opened at $141.19 on Tuesday. The company has a market capitalization of $40.87 billion, a PE ratio of 10.03 and a beta of 1.04. The company has a fifty day moving average of $142.26 and a 200 day moving average of $140.48. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $186.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The company’s revenue for the quarter was up 48.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.52 earnings per share. Research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. Diamondback Energy’s payout ratio is presently 28.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FANG shares. Melius started coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. UBS Group lifted their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Royal Bank Of Canada reiterated an “outperform” rating and set a $173.00 price objective on shares of Diamondback Energy in a research note on Friday, October 10th. Mizuho lowered their price objective on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Morgan Stanley lowered their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Diamondback Energy has a consensus rating of “Buy” and an average target price of $189.91.

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.