TD Asset Management Inc Decreases Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

TD Asset Management Inc cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 408,932 shares of the oil and natural gas company’s stock after selling 18,851 shares during the quarter. TD Asset Management Inc owned 0.14% of Diamondback Energy worth $65,380,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. BankPlus Trust Department bought a new position in shares of Diamondback Energy during the first quarter valued at $27,000. Pinnacle Bancorp Inc. raised its position in Diamondback Energy by 95.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 88 shares during the last quarter. Grove Bank & Trust lifted its stake in Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 80 shares during the period. WASHINGTON TRUST Co lifted its stake in Diamondback Energy by 119.8% during the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 109 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at about $33,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating on shares of Diamondback Energy in a report on Tuesday, July 15th. JPMorgan Chase & Co. cut their target price on shares of Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. KeyCorp dropped their price target on Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, Barclays cut their price objective on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Buy” and an average price target of $191.59.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president directly owned 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Down 0.5%

Shares of FANG stock opened at $144.61 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. The stock has a fifty day simple moving average of $141.65 and a two-hundred day simple moving average of $147.68. The firm has a market capitalization of $42.25 billion, a PE ratio of 8.84 and a beta of 1.05. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $203.98.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.87. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The firm’s revenue was up 81.8% on a year-over-year basis. During the same quarter last year, the business posted $4.50 earnings per share. On average, analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s payout ratio is currently 24.46%.

Diamondback Energy 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.