Lido Advisors LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) by 151.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,108 shares of the oil and natural gas company’s stock after buying an additional 3,683 shares during the period. Lido Advisors LLC’s holdings in Diamondback Energy were worth $735,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of FANG. Adirondack Trust Co. lifted its holdings in shares of Diamondback Energy by 275.0% in the third quarter. Adirondack Trust Co. now owns 225 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 165 shares during the last quarter. Private Trust Co. NA acquired a new stake in shares of Diamondback Energy during the second quarter valued at about $28,000. SOA Wealth Advisors LLC. grew its holdings in shares of Diamondback Energy by 72.1% during the third quarter. SOA Wealth Advisors LLC. now owns 241 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 101 shares during the last quarter. Carolinas Wealth Consulting LLC increased its stake in shares of Diamondback Energy by 366.7% in the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 176 shares during the period. Finally, First Personal Financial Services bought a new position in Diamondback Energy in the 3rd quarter valued at approximately $32,000. 89.76% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently commented on FANG shares. KeyCorp decreased their price objective on shares of Diamondback Energy from $182.00 to $171.00 and set an “overweight” rating on the stock in a research report on Thursday, December 8th. Susquehanna Bancshares boosted their price objective on Diamondback Energy from $180.00 to $190.00 in a research report on Wednesday, November 9th. Wells Fargo & Company decreased their target price on Diamondback Energy from $181.00 to $174.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 1st. Johnson Rice raised shares of Diamondback Energy from an “accumulate” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Monday, December 5th. Finally, Barclays lowered their target price on shares of Diamondback Energy from $173.00 to $166.00 and set an “overweight” rating on the stock in a report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.95.
Diamondback Energy Trading Down 0.6 %
FANG stock opened at $142.74 on Wednesday. Diamondback Energy, Inc. has a twelve month low of $103.71 and a twelve month high of $168.95. The stock has a market capitalization of $26.21 billion, a price-to-earnings ratio of 5.80, a price-to-earnings-growth ratio of 0.28 and a beta of 2.03. The company has a quick ratio of 0.77, a current ratio of 0.81 and a debt-to-equity ratio of 0.40. The firm’s fifty day simple moving average is $142.24 and its two-hundred day simple moving average is $141.59.
Diamondback Energy (NASDAQ:FANG – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The oil and natural gas company reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.20 by $0.09. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.09 billion. Diamondback Energy had a net margin of 45.48% and a return on equity of 29.29%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.63 earnings per share. As a group, analysts anticipate that Diamondback Energy, Inc. will post 23.09 earnings per share for the current year.
Diamondback Energy Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, March 3rd will be given a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a dividend yield of 8.27%. The ex-dividend date of this dividend is Thursday, March 2nd. Diamondback Energy’s dividend payout ratio (DPR) is presently 12.99%.
Insider Transactions at Diamondback Energy
In other news, VP Matt Zmigrosky sold 2,012 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $136.96, for a total transaction of $275,563.52. Following the transaction, the vice president now directly owns 23,623 shares of the company’s stock, valued at $3,235,406.08. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.
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