Eagle Asset Management Inc. trimmed its position in Diamondback Energy Inc (NASDAQ:FANG) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,174,125 shares of the oil and natural gas company’s stock after selling 12,496 shares during the period. Diamondback Energy comprises about 0.8% of Eagle Asset Management Inc.’s investment portfolio, making the stock its 10th largest position. Eagle Asset Management Inc. owned about 1.19% of Diamondback Energy worth $154,479,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Global X Management Co. LLC lifted its holdings in Diamondback Energy by 57.5% in the 1st quarter. Global X Management Co. LLC now owns 1,320 shares of the oil and natural gas company’s stock valued at $167,000 after purchasing an additional 482 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Diamondback Energy by 13.2% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 4,300 shares of the oil and natural gas company’s stock worth $566,000 after acquiring an additional 500 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in shares of Diamondback Energy by 5.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 10,121 shares of the oil and natural gas company’s stock worth $1,281,000 after acquiring an additional 504 shares during the period. Dana Investment Advisors Inc. lifted its holdings in shares of Diamondback Energy by 1.8% during the 2nd quarter. Dana Investment Advisors Inc. now owns 32,945 shares of the oil and natural gas company’s stock worth $4,335,000 after acquiring an additional 572 shares during the period. Finally, Natixis Advisors L.P. lifted its holdings in shares of Diamondback Energy by 5.0% during the 1st quarter. Natixis Advisors L.P. now owns 13,034 shares of the oil and natural gas company’s stock worth $1,649,000 after acquiring an additional 623 shares during the period. Institutional investors own 97.54% of the company’s stock.
FANG traded down $14.03 on Wednesday, reaching $119.72. 119,088 shares of the company’s stock were exchanged, compared to its average volume of 1,534,122. The company has a market cap of $13.29 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 0.66 and a beta of 0.62. Diamondback Energy Inc has a twelve month low of $85.73 and a twelve month high of $138.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.54.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 27th. Investors of record on Monday, August 20th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, August 17th. Diamondback Energy’s dividend payout ratio (DPR) is presently 9.43%.
In related news, insider Michael L. Hollis sold 5,000 shares of the stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $128.85, for a total transaction of $644,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Hof Matthew Kaes Van’t sold 832 shares of the stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $128.46, for a total transaction of $106,878.72. Following the sale, the vice president now directly owns 6,897 shares of the company’s stock, valued at approximately $885,988.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,332 shares of company stock valued at $1,367,579. Corporate insiders own 0.57% of the company’s stock.
Several research analysts have recently weighed in on the stock. Williams Capital set a $165.00 price objective on shares of Diamondback Energy and gave the stock a “hold” rating in a report on Wednesday. BMO Capital Markets lowered shares of Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $150.00 price objective on the stock. in a report on Wednesday. Raymond James reiterated a “buy” rating and set a $166.00 price objective on shares of Diamondback Energy in a report on Monday. TD Securities set a $175.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Saturday. Finally, SunTrust Banks reiterated a “buy” rating and set a $170.00 price objective on shares of Diamondback Energy in a report on Friday, August 10th. Four investment 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 a consensus target price of $151.33.
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.
Read More: Understanding Stock Ratings
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.