Baird Financial Group Inc. Sells 30,202 Shares of Diamondback Energy, Inc. $FANG

Baird Financial Group Inc. cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 9.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 278,697 shares of the oil and natural gas company’s stock after selling 30,202 shares during the quarter. Baird Financial Group Inc. owned about 0.10% of Diamondback Energy worth $38,293,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Guggenheim Capital LLC lifted its stake in shares of Diamondback Energy by 12.4% in the 2nd quarter. Guggenheim Capital LLC now owns 86,034 shares of the oil and natural gas company’s stock valued at $11,821,000 after purchasing an additional 9,515 shares during the last quarter. McGowan Group Asset Management Inc. raised its holdings in Diamondback Energy by 2.3% during the second quarter. McGowan Group Asset Management Inc. now owns 28,543 shares of the oil and natural gas company’s stock valued at $3,922,000 after buying an additional 645 shares in the last quarter. JBR Co Financial Management Inc lifted its position in shares of Diamondback Energy by 33.6% in the second quarter. JBR Co Financial Management Inc now owns 5,762 shares of the oil and natural gas company’s stock worth $792,000 after buying an additional 1,450 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Diamondback Energy by 64.7% in the second quarter. EverSource Wealth Advisors LLC now owns 45,269 shares of the oil and natural gas company’s stock worth $6,220,000 after buying an additional 17,790 shares during the last quarter. Finally, Benedict Financial Advisors Inc. boosted its stake in shares of Diamondback Energy by 3.8% during the 2nd quarter. Benedict Financial Advisors Inc. now owns 23,280 shares of the oil and natural gas company’s stock worth $3,199,000 after acquiring an additional 844 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FANG shares. Raymond James Financial reduced their target price 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. Mizuho reduced their price objective on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Melius Research began coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. William Blair began coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Finally, Piper Sandler cut their target price on shares of Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $186.95.

Diamondback Energy Trading Down 0.6%

Diamondback Energy stock opened at $158.60 on Friday. The business has a 50 day moving average price of $145.91 and a two-hundred day moving average price of $143.48. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $180.91. The stock has a market cap of $45.42 billion, a price-to-earnings ratio of 11.02 and a beta of 0.63.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.14. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.Diamondback Energy’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.19 EPS. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, November 13th. Diamondback Energy’s payout ratio is 27.80%.

About Diamondback Energy

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.