Eaton Vance Management lessened its holdings in Diamondback Energy Inc (NASDAQ:FANG) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,149 shares of the oil and natural gas company’s stock after selling 8,136 shares during the period. Eaton Vance Management owned approximately 0.09% of Diamondback Energy worth $12,052,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Franklin Resources Inc. lifted its stake in Diamondback Energy by 7.7% in the third quarter. Franklin Resources Inc. now owns 922,715 shares of the oil and natural gas company’s stock worth $124,732,000 after acquiring an additional 66,178 shares during the period. Bridgeway Capital Management Inc. raised its holdings in Diamondback Energy by 4.4% in the third quarter. Bridgeway Capital Management Inc. now owns 481,300 shares of the oil and natural gas company’s stock worth $65,067,000 after purchasing an additional 20,400 shares in the last quarter. AMP Capital Investors Ltd raised its holdings in Diamondback Energy by 19.5% in the third quarter. AMP Capital Investors Ltd now owns 38,339 shares of the oil and natural gas company’s stock worth $5,140,000 after purchasing an additional 6,248 shares in the last quarter. Baird Financial Group Inc. raised its holdings in Diamondback Energy by 0.8% in the third quarter. Baird Financial Group Inc. now owns 395,899 shares of the oil and natural gas company’s stock worth $54,159,000 after purchasing an additional 3,209 shares in the last quarter. Finally, Goelzer Investment Management Inc. bought a new position in Diamondback Energy in the third quarter worth about $2,519,000.
In other news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total transaction of $255,600.00. Following the transaction, the vice president now owns 89,532 shares in the company, valued at approximately $11,442,189.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.57% of the company’s stock.
A number of equities analysts have commented on FANG shares. Morgan Stanley set a $171.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Friday, October 12th. SunTrust Banks reiterated a “buy” rating and issued a $170.00 target price on shares of Diamondback Energy in a report on Friday, August 10th. Wells Fargo & Co reiterated an “outperform” rating and issued a $183.00 target price on shares of Diamondback Energy in a report on Wednesday, October 24th. KLR Group reiterated a “buy” rating and issued a $211.00 target price on shares of Diamondback Energy in a report on Monday, August 20th. Finally, BidaskClub upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a report on Friday, September 21st. Five research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $159.58.
Diamondback Energy stock opened at $105.08 on Thursday. Diamondback Energy Inc has a 12 month low of $103.51 and a 12 month high of $140.78. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 0.60 and a beta of 0.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.08 and a current ratio of 1.10.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.15. Diamondback Energy had a return on equity of 10.75% and a net margin of 33.63%. The firm had revenue of $538.03 million for the quarter, compared to analyst estimates of $518.32 million. During the same quarter last year, the firm posted $1.33 EPS. The business’s revenue was up 78.6% on a year-over-year basis. Sell-side analysts expect that Diamondback Energy Inc will post 6.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Monday, November 19th were given a dividend of $0.125 per share. The ex-dividend date was Friday, November 16th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.48%. Diamondback Energy’s dividend payout ratio (DPR) is 9.43%.
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Diamondback Energy Company Profile
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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