MassMutual Private Wealth & Trust FSB Sells 5,264 Shares of Diamondback Energy, Inc. $FANG

MassMutual Private Wealth & Trust FSB cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 86.1% in the third quarter, Holdings Channel reports. The institutional investor owned 847 shares of the oil and natural gas company’s stock after selling 5,264 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Diamondback Energy were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in Diamondback Energy by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock valued at $3,204,894,000 after purchasing an additional 388,512 shares during the last quarter. Boston Partners increased its holdings in shares of Diamondback Energy by 2.8% during the 2nd quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock worth $766,914,000 after purchasing an additional 151,150 shares during the period. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 2.7% during the second quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock valued at $746,526,000 after buying an additional 142,649 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Diamondback Energy by 9.0% in the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock valued at $637,841,000 after buying an additional 384,971 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in shares of Diamondback Energy by 9.2% in the second quarter. Raymond James Financial Inc. now owns 1,952,276 shares of the oil and natural gas company’s stock valued at $268,243,000 after buying an additional 164,293 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.2%

NASDAQ FANG opened at $147.41 on Friday. The stock’s 50 day simple moving average is $149.33 and its 200 day simple moving average is $144.87. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $180.91. The firm has a market cap of $42.22 billion, a PE ratio of 10.24 and a beta of 0.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.14. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The business’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.19 EPS. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. Diamondback Energy’s dividend payout ratio is currently 27.80%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Barclays cut their price target on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Roth Capital set a $162.00 target price on Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, November 4th. Morgan Stanley reissued an “overweight” rating and issued a $183.00 price target on shares of Diamondback Energy in a report on Thursday, November 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 29th. Finally, Wells Fargo & Company increased their target price on Diamondback Energy from $160.00 to $169.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Buy” and an average target price of $188.67.

Insider Buying and Selling

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the sale, the director owned 1,044,864 shares in the company, valued at approximately $144,828,599.04. This trade represents a 26.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.