Ballentine Partners LLC Purchases 332 Shares of Diamondback Energy, Inc. $FANG

Ballentine Partners LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 23.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,742 shares of the oil and natural gas company’s stock after acquiring an additional 332 shares during the period. Ballentine Partners LLC’s holdings in Diamondback Energy were worth $239,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Investor s Fiduciary Advisor Network LLC lifted its stake in shares of Diamondback Energy by 2.1% in the 1st quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company’s stock valued at $569,000 after acquiring an additional 74 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in Diamondback Energy by 5.6% in the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock valued at $226,000 after purchasing an additional 75 shares during the period. FourThought Financial Partners LLC increased its holdings in Diamondback Energy by 2.9% in the first quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock valued at $444,000 after purchasing an additional 78 shares during the period. Grove Bank & Trust increased its holdings in Diamondback Energy by 65.0% in the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock valued at $32,000 after purchasing an additional 80 shares during the period. Finally, Biondo Investment Advisors LLC increased its holdings in Diamondback Energy by 0.3% in the first quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company’s stock valued at $4,614,000 after purchasing an additional 80 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FANG has been the subject of a number of recent research reports. Susquehanna decreased their price objective on Diamondback Energy from $192.00 to $188.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Raymond James Financial decreased their price objective on Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a report on Wednesday, August 20th. Melius Research began coverage on Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target for the company. Melius began coverage on Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target for the company. Finally, UBS Group increased their price target on Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company’s stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Buy” and an average price target of $193.39.

Insider Activity at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction that occurred on 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 owned 102,145 shares in the company, valued at $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

Diamondback Energy Stock Down 3.2%

Shares of NASDAQ:FANG opened at $143.58 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The firm has a market capitalization of $41.56 billion, a PE ratio of 10.20 and a beta of 1.14. The firm has a fifty day moving average of $142.82 and a 200 day moving average of $141.73. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $200.47.

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 the consensus estimate of $2.72 by ($0.05). The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business’s revenue was up 48.1% on a year-over-year basis. During the same period last year, the company posted $4.52 earnings per share. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. Diamondback Energy’s dividend payout ratio is presently 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.