Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 32.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 460 shares of the oil and natural gas company’s stock after purchasing an additional 114 shares during the period. First Horizon Advisors Inc.’s holdings in Diamondback Energy were worth $79,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. Axxcess Wealth Management LLC purchased a new position in Diamondback Energy in the first quarter worth $219,000. Gamco Investors INC. ET AL boosted its holdings in Diamondback Energy by 19.6% during the first quarter. Gamco Investors INC. ET AL now owns 6,100 shares of the oil and natural gas company’s stock worth $1,209,000 after buying an additional 1,000 shares in the last quarter. LRI Investments LLC purchased a new stake in Diamondback Energy during the first quarter worth about $78,000. Lazard Asset Management LLC grew its position in Diamondback Energy by 4.7% during the first quarter. Lazard Asset Management LLC now owns 4,584 shares of the oil and natural gas company’s stock worth $908,000 after buying an additional 204 shares during the period. Finally, Mount Yale Investment Advisors LLC purchased a new position in Diamondback Energy in the first quarter valued at about $875,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 1.4 %

Shares of NASDAQ:FANG opened at $185.29 on Monday. The company has a 50 day moving average of $182.15 and a two-hundred day moving average of $190.63. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $54.10 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 1.34 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 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 analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.49 EPS. As a group, analysts forecast that Diamondback Energy, Inc. will post 16.35 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy 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 completion of the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the company’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 value of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 92.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FANG shares. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $205.00 to $215.00 in a report on Friday, October 4th. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Citigroup started coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 target price for the company. Finally, Morgan Stanley increased their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

Diamondback Energy 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.