Westfield Capital Management Co. LP Sells 46,164 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Westfield Capital Management Co. LP reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 13.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 302,444 shares of the oil and natural gas company’s stock after selling 46,164 shares during the quarter. Westfield Capital Management Co. LP owned about 0.10% of Diamondback Energy worth $52,141,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Centaurus Financial Inc. increased its position in shares of Diamondback Energy by 351.4% in the 3rd quarter. Centaurus Financial Inc. now owns 6,830 shares of the oil and natural gas company’s stock valued at $1,177,000 after buying an additional 5,317 shares in the last quarter. Alpha DNA Investment Management LLC grew its holdings in shares of Diamondback Energy by 13.6% during the third quarter. Alpha DNA Investment Management LLC now owns 3,260 shares of the oil and natural gas company’s stock worth $562,000 after buying an additional 391 shares in the last quarter. Larson Financial Group LLC raised its position in Diamondback Energy by 7.8% in the 3rd quarter. Larson Financial Group LLC now owns 16,199 shares of the oil and natural gas company’s stock valued at $2,793,000 after buying an additional 1,176 shares during the last quarter. Swedbank AB lifted its stake in Diamondback Energy by 69.2% in the 3rd quarter. Swedbank AB now owns 154,922 shares of the oil and natural gas company’s stock valued at $26,709,000 after acquiring an additional 63,360 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in Diamondback Energy by 3.1% in the 3rd quarter. Kingsview Wealth Management LLC now owns 44,570 shares of the oil and natural gas company’s stock valued at $7,684,000 after buying an additional 1,344 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy 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 completion of the sale, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $185.29 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a fifty day moving average of $182.15 and a 200-day moving average of $190.63. The firm has a market capitalization of $54.10 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.36 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.49 earnings per share. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 16.35 EPS for the current year.

Diamondback Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

FANG has been the topic of a number of recent research reports. Evercore ISI lowered their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Raymond James lifted their price target on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. initiated coverage on Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price objective for the company. Finally, Wells Fargo & Company reiterated a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.00.

Diamondback Energy Company 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.