Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by JBR Co Financial Management Inc

JBR Co Financial Management Inc cut its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,035 shares of the oil and natural gas company’s stock after selling 275 shares during the quarter. JBR Co Financial Management Inc’s holdings in Diamondback Energy were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Diamondback Energy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock worth $3,391,567,000 after purchasing an additional 176,208 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Diamondback Energy by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,596,427 shares of the oil and natural gas company’s stock worth $514,534,000 after purchasing an additional 83,883 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Diamondback Energy by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,213,631 shares of the oil and natural gas company’s stock worth $343,296,000 after purchasing an additional 188,590 shares in the last quarter. Yacktman Asset Management LP grew its stake in Diamondback Energy by 4.5% during the 4th quarter. Yacktman Asset Management LP now owns 1,520,447 shares of the oil and natural gas company’s stock worth $235,791,000 after purchasing an additional 65,524 shares in the last quarter. Finally, Raymond James & Associates grew its stake in Diamondback Energy by 11.5% during the 1st quarter. Raymond James & Associates now owns 1,094,071 shares of the oil and natural gas company’s stock worth $216,812,000 after purchasing an additional 112,787 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

FANG traded down $0.91 on Thursday, hitting $210.03. 893,578 shares of the company traded hands, compared to its average volume of 1,593,840. The company has a 50 day moving average of $197.62 and a 200-day moving average of $186.25. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $37.46 billion, a PE ratio of 11.84, a PEG ratio of 1.15 and a beta of 1.90. Diamondback Energy, Inc. has a 12-month low of $137.90 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating the consensus estimate of $4.29 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.10 EPS. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 18.8 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.71%. The ex-dividend date was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio is presently 20.29%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares in the company, valued at approximately $13,736,123.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the transaction, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares in the company, valued at approximately $13,736,123.78. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on FANG. Susquehanna boosted their target price on Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Barclays assumed coverage on Diamondback Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price target for the company. StockNews.com downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Evercore ISI lifted their price target on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Finally, Morgan Stanley decreased their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $208.95.

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.