SlateStone Wealth LLC Lowers Stake in Diamondback Energy Inc (NASDAQ:FANG)

SlateStone Wealth LLC lowered its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 18.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,473 shares of the oil and natural gas company’s stock after selling 565 shares during the quarter. SlateStone Wealth LLC’s holdings in Diamondback Energy were worth $222,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Amica Mutual Insurance Co. purchased a new position in Diamondback Energy during the second quarter valued at approximately $466,000. Scout Investments Inc. lifted its holdings in shares of Diamondback Energy by 7.6% in the second quarter. Scout Investments Inc. now owns 208,270 shares of the oil and natural gas company’s stock worth $22,695,000 after buying an additional 14,703 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Diamondback Energy by 4.8% in the second quarter. US Bancorp DE now owns 17,339 shares of the oil and natural gas company’s stock worth $1,890,000 after buying an additional 794 shares in the last quarter. Nomura Holdings Inc. lifted its holdings in shares of Diamondback Energy by 34.3% in the second quarter. Nomura Holdings Inc. now owns 83,636 shares of the oil and natural gas company’s stock worth $9,144,000 after buying an additional 21,342 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Diamondback Energy by 3,969.6% in the second quarter. CIBC Private Wealth Group LLC now owns 129,536 shares of the oil and natural gas company’s stock worth $14,116,000 after buying an additional 126,353 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

FANG traded up $1.03 during trading hours on Tuesday, hitting $77.81. The company’s stock had a trading volume of 148,749 shares, compared to its average volume of 2,416,270. The business’s 50-day moving average price is $85.53 and its 200-day moving average price is $97.96. Diamondback Energy Inc has a 12 month low of $73.71 and a 12 month high of $115.97. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 0.92 and a beta of 0.78. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.24). Diamondback Energy had a return on equity of 6.01% and a net margin of 29.59%. The business had revenue of $975.00 million during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm posted $1.67 EPS. The company’s revenue for the quarter was up 81.6% on a year-over-year basis. On average, analysts forecast that Diamondback Energy Inc will post 6.55 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 15th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 12.78%.

Several research firms have recently commented on FANG. Piper Jaffray Companies set a $156.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Friday, August 16th. TD Securities lowered their target price on shares of Diamondback Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Citigroup lowered their target price on shares of Diamondback Energy from $135.00 to $118.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Northland Securities reissued a “buy” rating and issued a $130.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. Finally, Williams Capital reissued a “buy” rating and issued a $165.00 target price on shares of Diamondback Energy in a report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $141.05.

In other Diamondback Energy news, COO Michael L. Hollis sold 2,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $102.25, for a total transaction of $204,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael P. Cross sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $104.75, for a total transaction of $104,750.00. The disclosure for this sale can be found here. Insiders sold 16,000 shares of company stock worth $1,621,690 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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