Park Avenue Securities LLC Trims Holdings in Diamondback Energy, Inc. $FANG

Park Avenue Securities LLC decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 12.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,953 shares of the oil and natural gas company’s stock after selling 581 shares during the quarter. Park Avenue Securities LLC’s holdings in Diamondback Energy were worth $543,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FANG. Wealth Enhancement Advisory Services LLC raised its position in Diamondback Energy by 145.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,162 shares of the oil and natural gas company’s stock worth $6,416,000 after buying an additional 23,191 shares during the last quarter. GAMMA Investing LLC raised its position in Diamondback Energy by 16,197.8% during the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company’s stock worth $96,827,000 after buying an additional 601,909 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in Diamondback Energy by 19.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,602 shares of the oil and natural gas company’s stock worth $416,000 after buying an additional 430 shares during the last quarter. Bowman & Co S.C. raised its position in Diamondback Energy by 18.5% during the 1st quarter. Bowman & Co S.C. now owns 4,662 shares of the oil and natural gas company’s stock worth $745,000 after buying an additional 727 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Diamondback Energy by 3.7% during the 1st quarter. Rhumbline Advisers now owns 353,765 shares of the oil and natural gas company’s stock worth $56,560,000 after buying an additional 12,534 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of analyst reports. Susquehanna cut their price objective on shares of Diamondback Energy from $192.00 to $188.00 and set a “positive” rating for the company in a research report on Wednesday, July 23rd. Mizuho cut their price target on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Wall Street Zen downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Melius began coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target for the company. Finally, UBS Group increased their price target on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $193.39.

Insider Activity

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the sale, the chairman directly owned 102,145 shares of the company’s stock, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $148.25 on Monday. The stock has a market cap of $42.92 billion, a price-to-earnings ratio of 10.54 and a beta of 1.15. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47. The company’s 50-day moving average price is $142.75 and its 200 day moving average price is $141.78. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the company posted $4.52 earnings per share. Diamondback Energy’s revenue was up 48.1% on a year-over-year basis. As a group, research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 28.43%.

Diamondback Energy Company Profile

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.