Vantage Investment Partners LLC Sells 71 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Vantage Investment Partners LLC trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.1% during the third quarter, HoldingsChannel reports. The firm owned 70,880 shares of the oil and natural gas company’s stock after selling 71 shares during the quarter. Vantage Investment Partners LLC’s holdings in Diamondback Energy were worth $12,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Nations Financial Group Inc. IA ADV increased its holdings in Diamondback Energy by 24.8% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 8,540 shares of the oil and natural gas company’s stock worth $1,472,000 after acquiring an additional 1,697 shares during the last quarter. Laffer Tengler Investments Inc. grew its holdings in Diamondback Energy by 3.4% during the 3rd quarter. Laffer Tengler Investments Inc. now owns 13,799 shares of the oil and natural gas company’s stock valued at $2,379,000 after buying an additional 460 shares in the last quarter. Versor Investments LP purchased a new position in Diamondback Energy during the 3rd quarter valued at about $3,055,000. GDS Wealth Management grew its holdings in Diamondback Energy by 3.5% during the 3rd quarter. GDS Wealth Management now owns 98,164 shares of the oil and natural gas company’s stock valued at $16,923,000 after buying an additional 3,360 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. purchased a new position in Diamondback Energy during the 3rd quarter valued at about $1,765,000. 90.01% of the stock is currently owned by institutional investors.

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 directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $179.13 on Tuesday. The stock has a market cap of $52.80 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.28 and a beta of 1.89. The firm’s 50-day moving average is $181.77 and its 200 day moving average is $192.15. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 3.64.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the company earned $5.49 EPS. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 17 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

Wall Street Analysts Forecast Growth

FANG has been the subject of several recent analyst reports. Citigroup initiated coverage on Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price objective for the company. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. StockNews.com downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Piper Sandler boosted their target price on Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Benchmark restated a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.64.

Diamondback Energy 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.