Andra AP fonden decreased its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 24.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,700 shares of the oil and natural gas company’s stock after selling 2,200 shares during the quarter. Andra AP fonden’s holdings in Diamondback Energy were worth $602,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Diamondback Energy by 1.6% in the second quarter. Vanguard Group Inc. now owns 17,698,267 shares of the oil and natural gas company’s stock valued at $1,928,581,000 after acquiring an additional 275,764 shares during the period. BlackRock Inc. grew its position in Diamondback Energy by 4.7% in the 2nd quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock worth $1,167,931,000 after purchasing an additional 485,647 shares during the last quarter. Corvex Management LP grew its position in Diamondback Energy by 10.7% in the 2nd quarter. Corvex Management LP now owns 2,935,307 shares of the oil and natural gas company’s stock worth $319,860,000 after purchasing an additional 283,785 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Diamondback Energy during the second quarter valued at about $303,291,000. Finally, Northern Trust Corp raised its position in shares of Diamondback Energy by 12.1% during the second quarter. Northern Trust Corp now owns 1,872,258 shares of the oil and natural gas company’s stock valued at $204,020,000 after buying an additional 202,584 shares during the last quarter. 98.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Diamondback Energy stock opened at $76.91 on Wednesday. Diamondback Energy Inc has a 12-month low of $73.18 and a 12-month high of $114.14. The stock has a market capitalization of $12.35 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 0.96 and a beta of 0.79. The company has a 50-day simple moving average of $80.84 and a 200 day simple moving average of $94.75. The company has a quick ratio of 0.68, a current ratio of 0.72 and a debt-to-equity ratio of 0.31.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 15th were issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is presently 12.78%.
In other Diamondback Energy news, COO Michael L. Hollis sold 2,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $102.25, for a total value of $204,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $100.25, for a total value of $501,250.00. Following the completion of the sale, the vice president now directly owns 105,107 shares of the company’s stock, valued at $10,536,976.75. The disclosure for this sale can be found here. Insiders sold a total of 11,000 shares of company stock valued at $1,120,130 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Morgan Stanley decreased their target price on Diamondback Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. BidaskClub raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. SunTrust Banks decreased their price objective on Diamondback Energy from $145.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Raymond James lowered their price objective on Diamondback Energy from $120.00 to $110.00 and set a “strong-buy” rating on the stock in a research report on Thursday, November 7th. Finally, Northland Securities restated a “buy” rating and issued a $130.00 target price on shares of Diamondback Energy in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy currently has a consensus rating of “Buy” and an average target price of $140.62.
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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