Allspring Global Investments Holdings LLC Trims Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANGGet Rating) by 25.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,968 shares of the oil and natural gas company’s stock after selling 60,513 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.10% of Diamondback Energy worth $20,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Brown Brothers Harriman & Co. raised its holdings in shares of Diamondback Energy by 14.5% during the second quarter. Brown Brothers Harriman & Co. now owns 624 shares of the oil and natural gas company’s stock worth $76,000 after purchasing an additional 79 shares during the last quarter. Hodges Capital Management Inc. increased its holdings in Diamondback Energy by 2.3% in the second quarter. Hodges Capital Management Inc. now owns 3,721 shares of the oil and natural gas company’s stock valued at $451,000 after buying an additional 82 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in Diamondback Energy by 4.3% in the second quarter. Perigon Wealth Management LLC now owns 2,197 shares of the oil and natural gas company’s stock valued at $266,000 after buying an additional 90 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Diamondback Energy by 6.3% in the second quarter. Quadrant Capital Group LLC now owns 1,660 shares of the oil and natural gas company’s stock valued at $201,000 after buying an additional 98 shares in the last quarter. Finally, Steward Financial Group LLC increased its holdings in Diamondback Energy by 3.9% in the second quarter. Steward Financial Group LLC now owns 2,654 shares of the oil and natural gas company’s stock valued at $321,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $141.95 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.61 and a quick ratio of 0.58. The firm has a market capitalization of $24.98 billion, a price-to-earnings ratio of 5.78, a PEG ratio of 0.25 and a beta of 2.00. The company’s 50-day moving average is $144.82 and its two-hundred day moving average is $135.12. Diamondback Energy, Inc. has a 1-year low of $103.71 and a 1-year high of $168.95.

Diamondback Energy (NASDAQ:FANGGet Rating) last posted its earnings results on Monday, November 7th. The oil and natural gas company reported $6.48 earnings per share for the quarter, missing the consensus estimate of $6.51 by ($0.03). The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.38 billion. Diamondback Energy had a net margin of 45.47% and a return on equity of 28.49%. Analysts forecast that Diamondback Energy, Inc. will post 24.64 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a None dividend, which was paid on Friday, November 25th. Stockholders of record on Thursday, November 17th were issued a $2.26 dividend. The ex-dividend date was Wednesday, November 16th. This represents a dividend yield of 4.7%. Diamondback Energy’s dividend payout ratio is currently 12.22%.

Insider Transactions at Diamondback Energy

In other news, VP Matt Zmigrosky sold 2,012 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $136.96, for a total value of $275,563.52. Following the transaction, the vice president now directly owns 23,623 shares in the company, valued at approximately $3,235,406.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on FANG shares. StockNews.com started coverage on shares of Diamondback Energy in a report on Wednesday, October 12th. They issued a “hold” rating for the company. MKM Partners boosted their target price on shares of Diamondback Energy to $170.00 in a research note on Tuesday, November 15th. Bank of America cut shares of Diamondback Energy from a “neutral” rating to an “underperform” rating and set a $143.00 target price for the company. in a research note on Monday, November 28th. They noted that the move was a valuation call. Susquehanna Bancshares boosted their target price on shares of Diamondback Energy from $180.00 to $190.00 in a research note on Wednesday, November 9th. Finally, Mizuho reissued a “buy” rating and set a $195.00 target price (down previously from $211.00) on shares of Diamondback Energy in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $181.81.

Diamondback Energy Profile

(Get Rating)

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 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.

Further Reading

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

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.