OLD National Bancorp IN Has $5.11 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

OLD National Bancorp IN trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 63.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,610 shares of the oil and natural gas company’s stock after selling 52,321 shares during the period. OLD National Bancorp IN’s holdings in Diamondback Energy were worth $5,105,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FANG. Park Avenue Securities LLC raised its holdings in Diamondback Energy by 6.8% during the 1st quarter. Park Avenue Securities LLC now owns 4,236 shares of the oil and natural gas company’s stock worth $839,000 after purchasing an additional 269 shares during the last quarter. International Assets Investment Management LLC raised its stake in Diamondback Energy by 10.0% in the 1st quarter. International Assets Investment Management LLC now owns 1,889 shares of the oil and natural gas company’s stock valued at $377,000 after acquiring an additional 172 shares during the period. Ballentine Partners LLC bought a new position in shares of Diamondback Energy during the first quarter worth approximately $292,000. Steph & Co. bought a new stake in shares of Diamondback Energy in the first quarter valued at about $129,000. Finally, Central Valley Advisors LLC acquired a new stake in Diamondback Energy during the first quarter worth approximately $1,801,000. 90.01% of the stock is currently owned by institutional investors.

Insider Activity

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FANG has been the subject of a number of research reports. Bank of America increased their price target on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. KeyCorp cut their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Scotiabank dropped their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Sanford C. Bernstein cut their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Finally, Susquehanna reduced their price target on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.09.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $183.99 on Monday. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The company has a market capitalization of $32.81 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.22 and a beta of 1.89. The business has a 50-day moving average of $186.35 and a 200-day moving average of $194.71.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period last year, the business posted $3.68 earnings per share. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $2.34 dividend. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. This represents a yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

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.