Moody National Bank Trust Division Sells 5,000 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Moody National Bank Trust Division reduced its position in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 66.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,533 shares of the oil and natural gas company’s stock after selling 5,000 shares during the quarter. Moody National Bank Trust Division’s holdings in Diamondback Energy were worth $502,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FANG. Wellington Management Group LLP boosted its holdings in shares of Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after acquiring an additional 648,317 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Diamondback Energy by 143.0% during the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after acquiring an additional 577,514 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Diamondback Energy by 286.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock valued at $92,380,000 after acquiring an additional 441,411 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of Diamondback Energy by 1,748.1% during the 3rd quarter. iA Global Asset Management Inc. now owns 281,256 shares of the oil and natural gas company’s stock valued at $43,561,000 after acquiring an additional 266,037 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Diamondback Energy by 16,215.2% during the 4th quarter. International Assets Investment Management LLC now owns 266,264 shares of the oil and natural gas company’s stock valued at $41,292,000 after acquiring an additional 264,632 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock traded up $1.31 on Wednesday, hitting $188.87. 1,124,380 shares of the company traded hands, compared to its average volume of 1,246,209. The stock has a market capitalization of $33.68 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.02 and a beta of 1.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The business has a 50-day simple moving average of $198.10 and a 200 day simple moving average of $179.12.

Diamondback Energy (NASDAQ:FANGGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the business posted $4.10 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. Research analysts expect that Diamondback Energy, Inc. will post 19.05 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s payout ratio is 20.29%.

Insider Activity at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares in the company, valued at approximately $13,736,123.78. The disclosure for this sale can be found here. Insiders have sold a total of 41,900 shares of company stock valued at $8,332,450 over the last 90 days. 0.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Bank of America reaffirmed a “neutral” rating and set a $201.00 price target on shares of Diamondback Energy in a report on Friday, June 14th. Morgan Stanley dropped their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Wells Fargo & Company dropped their price objective on shares of Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Susquehanna raised their price objective on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada raised their price objective on shares of Diamondback Energy from $195.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $209.35.

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About Diamondback Energy

(Free Report)

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It 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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