Rossby Financial LCC Buys 601 Shares of Diamondback Energy, Inc. $FANG

Rossby Financial LCC raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 27.4% in the 2nd quarter, Holdings Channel reports. The firm owned 2,794 shares of the oil and natural gas company’s stock after purchasing an additional 601 shares during the quarter. Rossby Financial LCC’s holdings in Diamondback Energy were worth $384,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Boston Partners grew its holdings in Diamondback Energy by 4.8% during the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock worth $861,961,000 after acquiring an additional 249,098 shares during the period. Bank of New York Mellon Corp grew its holdings in Diamondback Energy by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company’s stock worth $680,649,000 after acquiring an additional 94,177 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in Diamondback Energy by 4.1% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company’s stock worth $468,846,000 after acquiring an additional 114,930 shares during the period. Wellington Management Group LLP grew its holdings in Diamondback Energy by 27.3% during the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock worth $311,792,000 after acquiring an additional 418,431 shares during the period. Finally, Nuveen LLC acquired a new stake in Diamondback Energy during the 1st quarter worth about $230,039,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Susquehanna decreased their price target on Diamondback Energy to $188.00 and set a “positive” rating for the company in a report on Monday, October 20th. Raymond James Financial decreased their price target on Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a report on Wednesday, August 20th. Evercore ISI increased their price target on Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Melius started coverage on Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target for the company. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $173.00 target price on shares of Diamondback Energy in a research note on Friday, October 10th. Two research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $189.91.

Diamondback Energy Stock Down 1.0%

Shares of NASDAQ:FANG opened at $144.40 on Tuesday. The business’s 50 day simple moving average is $142.71 and its two-hundred day simple moving average is $141.10. The firm has a market cap of $41.80 billion, a P/E ratio of 10.26 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $186.07.

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 the consensus estimate of $2.72 by ($0.05). The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The firm’s revenue was up 48.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.52 EPS. As a group, research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. Diamondback Energy’s payout ratio is 28.43%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the transaction, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. The trade was a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.48% of the company’s stock.

About Diamondback Energy

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.