Wealthfront Advisers LLC Decreases Stake in Diamondback Energy, Inc. $FANG

Wealthfront Advisers LLC cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,455 shares of the oil and natural gas company’s stock after selling 3,766 shares during the period. Wealthfront Advisers LLC’s holdings in Diamondback Energy were worth $10,505,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its position in shares of Diamondback Energy by 4.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company’s stock worth $5,784,000 after buying an additional 1,384 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of 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 worth $1,143,000 after buying an additional 2,397 shares in the last quarter. True North Advisors LLC purchased a new stake in shares of Diamondback Energy in the 1st quarter worth about $327,000. Wealth Advisory Solutions LLC purchased a new stake in shares of Diamondback Energy in the 1st quarter worth about $2,631,000. Finally, Nuveen LLC purchased a new stake in shares of Diamondback Energy in the 1st quarter worth about $230,039,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Trading Down 0.9%

NASDAQ FANG opened at $145.86 on Monday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $186.07. The company has a 50-day moving average of $142.61 and a 200-day moving average of $141.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The company has a market cap of $42.22 billion, a P/E ratio of 10.37 and a beta of 1.04.

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

Diamondback Energy Dividend Announcement

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

Insider Activity at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman owned 102,145 shares of the company’s stock, valued at $14,586,306. This represents a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on FANG. Royal Bank Of Canada reiterated an “outperform” rating and issued a $173.00 price objective on shares of Diamondback Energy in a research report on Friday, October 10th. Mizuho cut their target price on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Raymond James Financial cut their target price on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 20th. Morgan Stanley cut their target price on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Finally, William Blair began coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $189.91.

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.