Diamondback Energy Inc (NASDAQ:FANG) Shares Sold by Cramer Rosenthal Mcglynn LLC

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Cramer Rosenthal Mcglynn LLC trimmed its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,922 shares of the oil and natural gas company’s stock after selling 8,960 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 0.17% of Diamondback Energy worth $30,285,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Earnest Partners LLC lifted its position in shares of Diamondback Energy by 13.8% during the second quarter. Earnest Partners LLC now owns 53,885 shares of the oil and natural gas company’s stock worth $5,872,000 after purchasing an additional 6,528 shares in the last quarter. BlackRock Inc. lifted its position in shares of Diamondback Energy by 4.7% during the second quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock worth $1,167,931,000 after purchasing an additional 485,647 shares in the last quarter. RMB Capital Management LLC lifted its position in shares of Diamondback Energy by 20.2% during the second quarter. RMB Capital Management LLC now owns 38,491 shares of the oil and natural gas company’s stock worth $4,194,000 after purchasing an additional 6,473 shares in the last quarter. US Bancorp DE lifted its position in shares of Diamondback Energy by 4.8% during the second quarter. US Bancorp DE now owns 17,339 shares of the oil and natural gas company’s stock worth $1,890,000 after purchasing an additional 794 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new position in shares of Diamondback Energy during the second quarter worth $11,218,000. 99.30% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on FANG. JPMorgan Chase & Co. dropped their price target on shares of Diamondback Energy from $155.00 to $149.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Morgan Stanley dropped their price target on shares of Diamondback Energy from $143.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Wells Fargo & Co lifted their price target on shares of Diamondback Energy from $169.00 to $171.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Royal Bank of Canada restated a “buy” rating and issued a $156.00 price target on shares of Diamondback Energy in a research note on Sunday, August 11th. Finally, ValuEngine lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $152.95.

FANG stock traded down $0.27 during trading on Friday, hitting $95.90. 94,600 shares of the company’s stock traded hands, compared to its average volume of 1,477,756. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.29. Diamondback Energy Inc has a 52 week low of $85.19 and a 52 week high of $140.78. The stock has a fifty day moving average price of $97.56 and a two-hundred day moving average price of $102.58. The stock has a market capitalization of $16.22 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 0.48 and a beta of 0.83.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.04). Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm earned $1.59 EPS. The firm’s revenue for the quarter was up 93.7% on a year-over-year basis. As a group, equities research analysts expect that Diamondback Energy Inc will post 7.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a dividend of $0.188 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.75 annualized dividend and a yield of 0.78%. Diamondback Energy’s payout ratio is 12.78%.

In other news, CEO Travis D. Stice purchased 4,186 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $95.55 per share, for a total transaction of $399,972.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $100.25, for a total transaction of $501,250.00. Following the transaction, the vice president now owns 105,107 shares of the company’s stock, valued at approximately $10,536,976.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,500 shares of company stock valued at $1,700,415. 0.47% of the stock is owned by insiders.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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