Diamondback Energy, Inc. $FANG Shares Sold by Rakuten Securities Inc.

Rakuten Securities Inc. lowered its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 87.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,394 shares of the oil and natural gas company’s stock after selling 9,754 shares during the period. Rakuten Securities Inc.’s holdings in Diamondback Energy were worth $199,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Uhlmann Price Securities LLC grew its holdings in Diamondback Energy by 1.3% during the 2nd quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock worth $699,000 after acquiring an additional 67 shares in the last quarter. Viawealth LLC lifted its position in Diamondback Energy by 5.0% during the 2nd quarter. Viawealth LLC now owns 1,753 shares of the oil and natural gas company’s stock worth $241,000 after acquiring an additional 83 shares during the period. STF Management LP lifted its stake in shares of Diamondback Energy by 1.9% in the 2nd quarter. STF Management LP now owns 4,490 shares of the oil and natural gas company’s stock worth $617,000 after acquiring an additional 84 shares during the period. Lodestone Wealth Management LLC increased its position in Diamondback Energy by 1.2% during the 3rd quarter. Lodestone Wealth Management LLC now owns 7,219 shares of the oil and natural gas company’s stock worth $1,033,000 after purchasing an additional 84 shares during the period. Finally, Fullcircle Wealth LLC boosted its position in shares of Diamondback Energy by 3.7% during the 2nd quarter. Fullcircle Wealth LLC now owns 2,385 shares of the oil and natural gas company’s stock worth $352,000 after purchasing an additional 85 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $150.82 on Friday. The company has a market cap of $43.19 billion, a P/E ratio of 10.48 and a beta of 0.59. The business has a fifty day simple moving average of $150.22 and a 200-day simple moving average of $145.19. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $180.91. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the prior year, the business posted $3.19 earnings per share. The firm’s revenue for the quarter was up 48.4% compared to the same quarter last year. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, November 13th. Diamondback Energy’s payout ratio is presently 27.80%.

Analyst Ratings Changes

FANG has been the subject of several research reports. Barclays reduced their price objective on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Roth Capital set a $162.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, November 4th. Scotiabank restated an “outperform” rating on shares of Diamondback Energy in a research report on Thursday, October 9th. Wall Street Zen downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $183.00 price target on shares of Diamondback Energy in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $188.67.

Insider Buying and Selling

In related news, Director Charles Alvin Meloy sold 377,911 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the transaction, the director owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub?basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.