Montgomery Investment Management Inc. Acquires 2,800 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Montgomery Investment Management Inc. grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,718 shares of the oil and natural gas company’s stock after acquiring an additional 2,800 shares during the period. Diamondback Energy accounts for approximately 1.5% of Montgomery Investment Management Inc.’s holdings, making the stock its 22nd largest position. Montgomery Investment Management Inc.’s holdings in Diamondback Energy were worth $3,874,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Boston Partners grew its position in Diamondback Energy by 14.5% in the fourth quarter. Boston Partners now owns 2,622,195 shares of the oil and natural gas company’s stock worth $126,915,000 after acquiring an additional 332,086 shares in the last quarter. Bank of New York Mellon Corp grew its position in Diamondback Energy by 23.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,826,749 shares of the oil and natural gas company’s stock worth $88,415,000 after acquiring an additional 343,400 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Diamondback Energy by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,208,281 shares of the oil and natural gas company’s stock worth $58,481,000 after acquiring an additional 41,066 shares in the last quarter. Russell Investments Group Ltd. grew its position in Diamondback Energy by 45.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,121,378 shares of the oil and natural gas company’s stock worth $54,274,000 after acquiring an additional 350,151 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Diamondback Energy by 131.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,028,050 shares of the oil and natural gas company’s stock worth $49,757,000 after acquiring an additional 583,073 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

Shares of NASDAQ FANG traded down $2.96 during mid-day trading on Tuesday, hitting $80.96. The company’s stock had a trading volume of 95,090 shares, compared to its average volume of 2,911,177. The stock has a market cap of $14.65 billion, a price-to-earnings ratio of -2.94, a price-to-earnings-growth ratio of 0.59 and a beta of 2.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.45 and a quick ratio of 0.43. Diamondback Energy, Inc. has a one year low of $23.63 and a one year high of $88.75. The company’s fifty day simple moving average is $77.44 and its 200-day simple moving average is $58.06.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Sunday, May 2nd. The oil and natural gas company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.57. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $864.18 million. Diamondback Energy had a negative net margin of 135.48% and a positive return on equity of 5.10%. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 EPS. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 3.06 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 11th. Investors of record on Thursday, March 4th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.98%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, March 3rd. Diamondback Energy’s dividend payout ratio (DPR) is currently 23.09%.

FANG has been the subject of a number of analyst reports. Cowen boosted their price objective on shares of Diamondback Energy from $60.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 20th. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $103.00 to $107.00 and gave the stock an “overweight” rating in a research note on Monday, April 26th. BMO Capital Markets restated a “neutral” rating on shares of Diamondback Energy in a research note on Tuesday, April 13th. Credit Suisse Group boosted their price objective on shares of Diamondback Energy from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Johnson Rice cut shares of Diamondback Energy from an “accumulate” rating to a “hold” rating in a research note on Tuesday, March 9th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $81.13.

In related news, CFO Hof Matthew Kaes Van’t sold 1,900 shares of the stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $77.24, for a total value of $146,756.00. Following the sale, the chief financial officer now directly owns 67,043 shares in the company, valued at approximately $5,178,401.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 20,000 shares of the stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $85.00, for a total transaction of $1,700,000.00. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

About Diamondback Energy

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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