Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 63.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 540 shares of the oil and natural gas company’s stock after selling 925 shares during the period. LGT Financial Advisors LLC’s holdings in Diamondback Energy were worth $108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FANG. Hamel Associates Inc. grew its stake in shares of Diamondback Energy by 22.6% during the second quarter. Hamel Associates Inc. now owns 1,410 shares of the oil and natural gas company’s stock worth $282,000 after purchasing an additional 260 shares in the last quarter. 9258 Wealth Management LLC lifted its holdings in Diamondback Energy by 33.9% during the 2nd quarter. 9258 Wealth Management LLC now owns 2,245 shares of the oil and natural gas company’s stock worth $449,000 after buying an additional 568 shares during the last quarter. Impact Partnership Wealth LLC boosted its position in shares of Diamondback Energy by 4,917.4% during the 2nd quarter. Impact Partnership Wealth LLC now owns 5,770 shares of the oil and natural gas company’s stock worth $1,155,000 after acquiring an additional 5,655 shares in the last quarter. FineMark National Bank & Trust purchased a new position in shares of Diamondback Energy in the 2nd quarter valued at about $7,043,000. Finally, Consolidated Planning Corp raised its position in shares of Diamondback Energy by 12.3% during the 2nd quarter. Consolidated Planning Corp now owns 17,328 shares of the oil and natural gas company’s stock worth $3,469,000 after acquiring an additional 1,902 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on FANG. Barclays raised their price objective on shares of Diamondback Energy from $214.00 to $216.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 price target on shares of Diamondback Energy in a research report on Tuesday, August 13th. Sanford C. Bernstein decreased their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. UBS Group lifted their target price on Diamondback Energy from $245.00 to $247.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Benchmark reissued a “buy” rating and issued a $154.00 target price on shares of Diamondback Energy in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

Diamondback Energy Stock Down 0.1 %

FANG stock opened at $184.01 on Friday. The stock has a market capitalization of $32.82 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 1.23 and a beta of 1.90. The company has a 50-day moving average of $198.45 and a two-hundred day moving average of $195.81. Diamondback Energy, Inc. has a 52-week low of $143.08 and a 52-week high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.68 EPS. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $2.34 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a yield of 1.9%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is currently 20.29%.

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.