Anchor Capital Advisors LLC Reduces Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Anchor Capital Advisors LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 398,579 shares of the oil and natural gas company’s stock after selling 25,303 shares during the period. Diamondback Energy comprises 2.2% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. Anchor Capital Advisors LLC owned approximately 0.22% of Diamondback Energy worth $79,792,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of 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 during the period. Price T Rowe Associates Inc. MD boosted its stake in Diamondback Energy by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after acquiring an additional 2,381,488 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after acquiring an additional 415,902 shares during the period. Boston Partners increased its stake in shares of Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after purchasing an additional 1,916,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Diamondback Energy by 9.3% in 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 during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 2.3 %

NASDAQ FANG opened at $179.73 on Friday. The firm has a market cap of $32.05 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89. Diamondback Energy, Inc. has a 1-year low of $143.08 and a 1-year high of $214.50. The stock has a 50-day moving average of $198.04 and a 200-day moving average of $195.93. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the company posted $3.68 earnings per share. The business’s revenue was up 29.4% on a year-over-year basis. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $2.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FANG. KeyCorp started coverage on Diamondback Energy in a research report on Thursday, June 27th. They issued an “overweight” rating and a $225.00 target price for the company. Bank of America boosted their price objective on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Benchmark reaffirmed a “buy” rating and set a $154.00 price objective on shares of Diamondback Energy in a report on Tuesday, August 6th. UBS Group boosted their price target on shares of Diamondback Energy from $245.00 to $247.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Mizuho raised their price objective on shares of Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

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.