Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Decreased by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 49.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,021 shares of the oil and natural gas company’s stock after selling 1,986 shares during the period. Symphony Financial Ltd. Co.’s holdings in Diamondback Energy were worth $401,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Diamondback Energy by 27.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 7,326 shares of the oil and natural gas company’s stock worth $1,452,000 after acquiring an additional 1,589 shares during the period. MCF Advisors LLC raised its holdings in Diamondback Energy by 60.2% during the first quarter. MCF Advisors LLC now owns 1,355 shares of the oil and natural gas company’s stock worth $268,000 after purchasing an additional 509 shares in the last quarter. Reliant Investment Management LLC acquired a new stake in Diamondback Energy in the first quarter worth approximately $254,000. Hodges Capital Management Inc. boosted its stake in Diamondback Energy by 27.1% during the 1st quarter. Hodges Capital Management Inc. now owns 8,260 shares of the oil and natural gas company’s stock valued at $1,637,000 after purchasing an additional 1,762 shares in the last quarter. Finally, Independence Bank of Kentucky increased its position in shares of Diamondback Energy by 25.8% during the 1st quarter. Independence Bank of Kentucky now owns 1,730 shares of the oil and natural gas company’s stock valued at $343,000 after purchasing an additional 355 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.5 %

FANG stock traded up $1.00 during midday trading on Friday, reaching $200.19. The company had a trading volume of 2,105,955 shares, compared to its average volume of 1,434,126. The company has a 50 day moving average of $196.76 and a two-hundred day moving average of $181.50. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a 1 year low of $125.73 and a 1 year high of $211.96. The company has a market capitalization of $35.70 billion, a P/E ratio of 11.28, a PEG ratio of 1.08 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the company earned $4.10 earnings per share. Diamondback Energy’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy, Inc. will post 19.06 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were paid a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.80%. Diamondback Energy’s payout ratio is 20.29%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com raised Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Thursday. Evercore ISI lifted their price objective on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Bank of America reissued a “neutral” rating and set a $201.00 target price on shares of Diamondback Energy in a research note on Friday, June 14th. Barclays assumed coverage on Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price target on the stock. Finally, Sanford C. Bernstein initiated coverage on Diamondback Energy in a report on Thursday, June 6th. They issued an “outperform” rating and a $243.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.35.

Insider Buying and Selling

In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the sale, the vice president now directly owns 7,585 shares in the company, valued at $1,516,241.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,900 shares of company stock worth $7,362,750. Insiders own 0.48% of the company’s stock.

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.