Sentinel Trust Co. LBA decreased its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 33.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,342 shares of the oil and natural gas company’s stock after selling 1,166 shares during the period. Sentinel Trust Co. LBA’s holdings in Diamondback Energy were worth $308,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Next Century Growth Investors LLC purchased a new position in shares of Diamondback Energy during the first quarter valued at about $121,000. ClariVest Asset Management LLC grew its position in shares of Diamondback Energy by 14,557.1% during the first quarter. ClariVest Asset Management LLC now owns 1,026 shares of the oil and natural gas company’s stock valued at $130,000 after purchasing an additional 1,019 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Diamondback Energy by 99.8% during the second quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock valued at $131,000 after purchasing an additional 497 shares in the last quarter. Signaturefd LLC purchased a new position in shares of Diamondback Energy during the first quarter valued at about $132,000. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of Diamondback Energy during the first quarter valued at about $187,000.
A number of research analysts have recently weighed in on the company. BidaskClub lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Stifel Nicolaus set a $166.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Thursday, July 19th. Williams Capital set a $165.00 price objective on Diamondback Energy and gave the company a “hold” rating in a research report on Wednesday, August 15th. KLR Group reiterated a “buy” rating and issued a $211.00 price target on shares of Diamondback Energy in a research report on Monday, August 20th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $135.00 price target on shares of Diamondback Energy in a research report on Friday, August 17th. Five analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Diamondback Energy currently has a consensus rating of “Buy” and an average price target of $154.18.
In related news, VP Hof Matthew Kaes Van’t sold 832 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $128.46, for a total value of $106,878.72. Following the completion of the transaction, the vice president now owns 6,897 shares of the company’s stock, valued at $885,988.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael L. Hollis sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $128.85, for a total transaction of $644,250.00. The disclosure for this sale can be found here. Insiders have sold 5,972 shares of company stock valued at $768,014 in the last ninety days. Insiders own 0.57% of the company’s stock.
Shares of NASDAQ:FANG opened at $121.73 on Monday. Diamondback Energy Inc has a 1 year low of $93.16 and a 1 year high of $138.25. The company has a market cap of $11.88 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.33.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.64 by ($0.05). Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. The company had revenue of $526.30 million for the quarter, compared to the consensus estimate of $479.57 million. During the same period in the prior year, the firm posted $1.25 EPS. The business’s revenue was up 95.4% on a year-over-year basis. analysts anticipate that Diamondback Energy Inc will post 6.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 27th. Stockholders of record on Monday, August 20th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, August 17th. Diamondback Energy’s dividend payout ratio is presently 9.43%.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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