Prudential PLC Has $965,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Prudential PLC cut its stake in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,220 shares of the oil and natural gas company’s stock after selling 799 shares during the quarter. Prudential PLC’s holdings in Diamondback Energy were worth $965,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vinva Investment Management Ltd bought a new stake in shares of Diamondback Energy in the fourth quarter worth about $502,000. Morningstar Investment Services LLC lifted its stake in Diamondback Energy by 98.2% in the fourth quarter. Morningstar Investment Services LLC now owns 156,274 shares of the oil and natural gas company’s stock valued at $24,274,000 after buying an additional 77,445 shares in the last quarter. Baldwin Investment Management LLC boosted its holdings in shares of Diamondback Energy by 1.2% in the fourth quarter. Baldwin Investment Management LLC now owns 6,170 shares of the oil and natural gas company’s stock valued at $957,000 after buying an additional 75 shares during the period. American International Group Inc. raised its holdings in shares of Diamondback Energy by 1.2% during the fourth quarter. American International Group Inc. now owns 61,507 shares of the oil and natural gas company’s stock worth $9,539,000 after acquiring an additional 704 shares during the period. Finally, Cibc World Markets Corp raised its stake in shares of Diamondback Energy by 59.2% in the 4th quarter. Cibc World Markets Corp now owns 48,460 shares of the oil and natural gas company’s stock valued at $7,515,000 after purchasing an additional 18,018 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $193.97 on Tuesday. The company has a market cap of $34.59 billion, a PE ratio of 10.93 and a beta of 1.90. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The business has a 50 day moving average price of $199.72 and a 200-day moving average price of $177.60.

Diamondback Energy (NASDAQ:FANGGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the business earned $4.10 EPS. The business’s revenue was up 15.7% on a year-over-year basis. Equities analysts anticipate that Diamondback Energy, Inc. will post 19.1 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Analysts Set New Price Targets

Several equities research analysts have commented on FANG shares. Susquehanna boosted their price target on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Wells Fargo & Company lowered their price objective on Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Sanford C. Bernstein started coverage on shares of Diamondback Energy in a research report on Thursday, June 6th. They issued an “outperform” rating and a $243.00 price target for the company. Scotiabank upped their price objective on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Bank of America upgraded shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and raised their price target for the company from $129.00 to $170.00 in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $207.80.

Read Our Latest Report on FANG

Insiders Place Their Bets

In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the transaction, the vice president now owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the transaction, the chief operating officer now owns 69,677 shares in the company, valued at $13,736,123.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now directly owns 7,585 shares in the company, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,575 shares of company stock valued at $12,673,846. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Company Profile

(Free Report)

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.

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

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