Smithfield Trust Co Has $39,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Smithfield Trust Co trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 47.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225 shares of the oil and natural gas company’s stock after selling 205 shares during the quarter. Smithfield Trust Co’s holdings in Diamondback Energy were worth $39,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Community Trust NA bought a new stake in shares of Diamondback Energy in the second quarter worth $26,000. Carolinas Wealth Consulting LLC increased its stake in shares of Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares during the period. HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the second quarter worth about $40,000. Values First Advisors Inc. acquired a new position in shares of Diamondback Energy in the third quarter worth approximately $42,000. Finally, Founders Capital Management boosted its holdings in Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 125 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FANG. Citigroup assumed coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target on the stock. Scotiabank cut their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. Finally, Susquehanna dropped their price target on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

Diamondback Energy Trading Up 1.4 %

NASDAQ FANG opened at $185.29 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $182.15 and a 200 day simple moving average of $190.81. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The firm has a market capitalization of $54.10 billion, a P/E ratio of 10.61, a PEG ratio of 1.32 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the company earned $5.49 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 16.37 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.94%. Diamondback Energy’s payout ratio is presently 20.61%.

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.