Diamondback Energy, Inc. $FANG Shares Sold by Sava Infond d.o.o.

Sava Infond d.o.o. trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 78.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 500 shares of the oil and natural gas company’s stock after selling 1,800 shares during the period. Sava Infond d.o.o.’s holdings in Diamondback Energy were worth $69,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. BankPlus Trust Department acquired a new position in shares of Diamondback Energy during the 1st quarter worth approximately $27,000. Pinnacle Bancorp Inc. raised its stake in shares of Diamondback Energy by 95.7% during 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 period. SouthState Corp raised its stake in shares of Diamondback Energy by 596.4% during the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 167 shares during the period. Grove Bank & Trust raised its stake in shares of 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 worth $32,000 after buying an additional 80 shares during the period. Finally, WASHINGTON TRUST Co raised its stake in Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock valued at $32,000 after purchasing an additional 109 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $147.47 on Friday. The business has a 50-day moving average of $142.86 and a 200 day moving average of $141.52. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $200.47. The stock has a market capitalization of $42.69 billion, a price-to-earnings ratio of 10.48 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results 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 firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter last year, the business earned $4.52 earnings per share. The business’s revenue was up 48.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s dividend payout ratio (DPR) is 28.43%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. KeyCorp reduced their price objective on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. UBS Group increased their price objective on Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. Susquehanna reduced their price objective on Diamondback Energy from $192.00 to $188.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Finally, Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $192.41.

Insider Buying and Selling

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the sale, the chairman owned 102,145 shares of the company’s stock, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by company insiders.

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.