Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Diamondback Energy Inc (NASDAQ:FANG) by 163.8% in the third quarter, Holdings Channel.com reports. The fund owned 12,885 shares of the oil and natural gas company’s stock after buying an additional 8,000 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Diamondback Energy were worth $1,158,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in FANG. Nuveen Asset Management LLC acquired a new stake in Diamondback Energy in the second quarter valued at $303,291,000. BlackRock Inc. lifted its holdings in Diamondback Energy by 4.7% in the second quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock valued at $1,167,931,000 after acquiring an additional 485,647 shares during the period. Balyasny Asset Management LLC increased its position in shares of Diamondback Energy by 14,382.5% in the second quarter. Balyasny Asset Management LLC now owns 468,943 shares of the oil and natural gas company’s stock valued at $51,101,000 after buying an additional 465,705 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Diamondback Energy by 47.5% in the second quarter. Point72 Asset Management L.P. now owns 1,406,516 shares of the oil and natural gas company’s stock valued at $153,268,000 after buying an additional 453,267 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Diamondback Energy by 43.2% in the second quarter. Bessemer Group Inc. now owns 941,887 shares of the oil and natural gas company’s stock valued at $102,638,000 after buying an additional 284,343 shares in the last quarter. 99.34% of the stock is owned by institutional investors.
Diamondback Energy stock traded up $1.03 during midday trading on Tuesday, reaching $77.81. 148,749 shares of the company were exchanged, compared to its average volume of 2,416,270. The company has a market capitalization of $12.10 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 0.92 and a beta of 0.78. The firm’s 50-day simple moving average is $85.53 and its 200-day simple moving average is $97.96. Diamondback Energy Inc has a 1 year low of $73.71 and a 1 year high of $115.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.68 and a current ratio of 0.72.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 15th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 12.78%.
A number of brokerages have recently weighed in on FANG. ValuEngine upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Piper Jaffray Companies set a $156.00 price target on Diamondback Energy and gave the company a “buy” rating in a research report on Friday, August 16th. Bank of America dropped their price target on Diamondback Energy from $165.00 to $151.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. TD Securities dropped their price target on Diamondback Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Oppenheimer cut Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $138.00 price target for the company. in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $141.05.
In other Diamondback Energy news, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $100.25, for a total value of $501,250.00. Following the completion of the sale, the vice president now owns 105,107 shares in the company, valued at approximately $10,536,976.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael P. Cross sold 1,000 shares of Diamondback Energy stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $104.75, for a total value of $104,750.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,000 shares of company stock valued at $1,621,690. 0.47% of the stock is currently owned by company insiders.
Diamondback Energy 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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