Diamondback Energy, Inc. $FANG Stock Position Trimmed by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 10.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,325 shares of the oil and natural gas company’s stock after selling 400 shares during the period. Wellington Shields Capital Management LLC’s holdings in Diamondback Energy were worth $457,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FANG. Sigma Planning Corp grew its holdings in Diamondback Energy by 2.6% in the 2nd quarter. Sigma Planning Corp now owns 4,671 shares of the oil and natural gas company’s stock worth $642,000 after buying an additional 118 shares in the last quarter. South Dakota Investment Council raised its stake in Diamondback Energy by 1.2% during the 2nd quarter. South Dakota Investment Council now owns 96,570 shares of the oil and natural gas company’s stock valued at $13,269,000 after acquiring an additional 1,105 shares in the last quarter. State of Michigan Retirement System boosted its position in Diamondback Energy by 16.1% during the 2nd quarter. State of Michigan Retirement System now owns 67,063 shares of the oil and natural gas company’s stock worth $9,214,000 after acquiring an additional 9,300 shares during the period. iA Global Asset Management Inc. boosted its position in Diamondback Energy by 1.6% during the 2nd quarter. iA Global Asset Management Inc. now owns 32,363 shares of the oil and natural gas company’s stock worth $4,447,000 after acquiring an additional 502 shares during the period. Finally, Meridian Management Co. grew its stake in shares of Diamondback Energy by 12.4% in the second quarter. Meridian Management Co. now owns 22,039 shares of the oil and natural gas company’s stock worth $3,276,000 after purchasing an additional 2,432 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.7%

Shares of Diamondback Energy stock opened at $143.16 on Monday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $186.07. The firm has a market capitalization of $41.44 billion, a PE ratio of 10.17 and a beta of 0.99. 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 stock’s fifty day moving average is $142.95 and its 200-day moving average is $141.62.

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

Insider Buying and Selling at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the sale, the chairman owned 102,145 shares in the company, valued at $14,586,306. The trade was 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 the SEC website. 0.48% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FANG shares. Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a report on Thursday, October 9th. Wells Fargo & Company lowered their target price on shares of Diamondback Energy from $211.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. UBS Group upped their price target on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Wall Street Zen cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Raymond James Financial lowered 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 research note on Wednesday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Buy” and a consensus target price of $189.67.

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.