Oppenheimer Asset Management Inc. Raises Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Oppenheimer Asset Management Inc. raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 23.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,164 shares of the oil and natural gas company’s stock after acquiring an additional 10,626 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Diamondback Energy were worth $9,683,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after buying an additional 2,381,488 shares during the last quarter. Bank of New York Mellon Corp raised its position in Diamondback Energy by 16.0% during the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after purchasing an additional 415,902 shares in the last quarter. Boston Partners lifted its stake in Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after purchasing an additional 1,916,900 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Diamondback Energy by 10.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after purchasing an additional 247,065 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Diamondback Energy by 7.1% in the 2nd quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company’s stock worth $495,236,000 after purchasing an additional 164,732 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Benchmark restated a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. Sanford C. Bernstein cut their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Jefferies Financial Group began coverage on Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 price objective on the stock. Finally, Morgan Stanley increased their target price on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $209.64.

Diamondback Energy Stock Up 1.3 %

NASDAQ:FANG opened at $182.24 on Thursday. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The company has a market capitalization of $53.21 billion, a PE ratio of 10.43, a P/E/G ratio of 1.27 and a beta of 1.89. The firm’s 50-day moving average price is $181.30 and its 200-day moving average price is $191.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the company earned $5.49 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts predict that Diamondback Energy, Inc. will post 17 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.98%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

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.