Diamondback Energy, Inc. $FANG Shares Sold by Segment Wealth Management LLC

Segment Wealth Management LLC decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,872 shares of the oil and natural gas company’s stock after selling 145 shares during the quarter. Segment Wealth Management LLC’s holdings in Diamondback Energy were worth $395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its position in shares of Diamondback Energy by 4.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company’s stock valued at $5,784,000 after acquiring an additional 1,384 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Diamondback Energy by 6.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company’s stock valued at $9,409,000 after buying an additional 3,467 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Diamondback Energy by 50.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company’s stock valued at $1,143,000 after buying an additional 2,397 shares during the period. True North Advisors LLC purchased a new stake in Diamondback Energy in the 1st quarter valued at about $327,000. Finally, Wealth Advisory Solutions LLC purchased a new stake in Diamondback Energy in the 1st quarter valued at about $2,631,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Susquehanna reduced their price objective on shares of Diamondback Energy from $192.00 to $188.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Diamondback Energy in a report on Saturday, September 27th. Wells Fargo & Company boosted their price objective on shares of Diamondback Energy from $210.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. UBS Group boosted their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Raymond James Financial reduced their price objective on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a report on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $192.41.

Insider Transactions at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the sale, the chairman directly owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.

Diamondback Energy Stock Performance

Shares of FANG opened at $147.47 on Friday. The stock has a 50 day moving average price of $142.86 and a 200 day moving average price of $141.52. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $42.69 billion, a price-to-earnings ratio of 10.48 and a beta of 1.04. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $200.47.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business’s revenue for the quarter was up 48.1% compared to the same quarter last year. During the same period last year, the company earned $4.52 earnings per share. Research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is 28.43%.

Diamondback Energy Company Profile

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.