Mount Yale Investment Advisors LLC Grows Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Mount Yale Investment Advisors LLC raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 29.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,407 shares of the oil and natural gas company’s stock after acquiring an additional 994 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Diamondback Energy were worth $760,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Diamondback Energy by 38.2% in the first 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 purchasing an additional 2,381,488 shares during the last quarter. Boston Partners lifted its stake in shares of Diamondback Energy by 235.6% during the 1st 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 during the last quarter. Homestead Advisers Corp purchased a new position in Diamondback Energy during the 1st quarter valued at $87,940,000. Bank of New York Mellon Corp grew its position in 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 during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Diamondback Energy by 280.8% in the second 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. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

FANG opened at $184.38 on Friday. The firm’s 50-day moving average price is $184.90 and its 200-day moving average price is $194.10. The company has a market cap of $54.34 billion, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 1.27 and a beta of 1.89. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the company posted $3.68 earnings per share. The business’s quarterly revenue was up 29.4% on a year-over-year basis. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 17.37 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $2.34 per share. The ex-dividend date was Thursday, August 15th. This represents a yield of 1.9%. This is a boost from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s payout ratio is currently 18.60%.

Insider Buying and Selling at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FANG. UBS Group lowered their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Jefferies Financial Group started coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 target price on the stock. Morgan Stanley boosted their price target on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Evercore ISI reduced their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Finally, KeyCorp lowered their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $210.09.

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.