Measured Wealth Private Client Group LLC Acquires New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Measured Wealth Private Client Group LLC bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, Holdings Channel reports. The institutional investor bought 1,538 shares of the oil and natural gas company’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares during the last quarter. Boston Partners increased its position in Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after acquiring an additional 1,916,900 shares during the period. Homestead Advisers Corp bought a new stake in Diamondback Energy during the 1st quarter valued at $87,940,000. Bank of New York Mellon Corp boosted its position in 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 worth $603,038,000 after acquiring an additional 415,902 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Diamondback Energy by 280.8% in the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock worth $109,144,000 after purchasing an additional 402,026 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on FANG. Citigroup began coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price for the company. Evercore ISI lowered their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Jefferies Financial Group started coverage on Diamondback Energy in a research report on Monday, September 16th. They issued a “hold” rating and a $185.00 target price for the company. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein cut their price objective on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is owned by insiders.

Diamondback Energy Price Performance

NASDAQ FANG opened at $178.33 on Thursday. The firm has a market capitalization of $31.80 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.27 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The company has a 50 day simple moving average of $183.98 and a 200-day simple moving average of $193.38. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the company earned $3.68 earnings per share. The company’s revenue was up 29.4% compared to the same quarter last year. Equities research analysts predict that Diamondback Energy, Inc. will post 17.37 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

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.