Exchange Capital Management Inc. decreased its holdings in Diamondback Energy Inc (NASDAQ:FANG) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,088 shares of the oil and natural gas company’s stock after selling 593 shares during the quarter. Exchange Capital Management Inc.’s holdings in Diamondback Energy were worth $2,141,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of FANG. RMB Capital Management LLC bought a new position in shares of Diamondback Energy during the 4th quarter valued at approximately $2,652,000. Goelzer Investment Management Inc. grew its position in shares of Diamondback Energy by 1.2% during the 4th quarter. Goelzer Investment Management Inc. now owns 18,866 shares of the oil and natural gas company’s stock valued at $1,749,000 after acquiring an additional 230 shares during the period. Nordea Investment Management AB grew its position in shares of Diamondback Energy by 81.3% during the 3rd quarter. Nordea Investment Management AB now owns 3,815 shares of the oil and natural gas company’s stock valued at $516,000 after acquiring an additional 1,711 shares during the period. Dubuque Bank & Trust Co. bought a new position in shares of Diamondback Energy during the 4th quarter valued at approximately $49,000. Finally, Moody National Bank Trust Division grew its position in shares of Diamondback Energy by 0.6% during the 4th quarter. Moody National Bank Trust Division now owns 22,628 shares of the oil and natural gas company’s stock valued at $2,097,000 after acquiring an additional 125 shares during the period. 99.74% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on FANG shares. BidaskClub raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Friday, January 11th. Morgan Stanley set a $147.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, January 29th. Mizuho assumed coverage on shares of Diamondback Energy in a report on Tuesday, January 29th. They issued a “buy” rating and a $137.00 price objective for the company. Williams Capital reaffirmed a “buy” rating and issued a $153.00 price objective on shares of Diamondback Energy in a report on Wednesday, February 20th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Diamondback Energy in a report on Friday, March 29th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $160.43.
Shares of NASDAQ:FANG opened at $108.24 on Friday. The firm has a market capitalization of $16.17 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 0.62 and a beta of 0.80. Diamondback Energy Inc has a 52 week low of $85.19 and a 52 week high of $140.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 0.91.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $864.00 million for the quarter, compared to analysts’ expectations of $893.16 million. Diamondback Energy had a net margin of 38.84% and a return on equity of 7.83%. The firm’s revenue was up 80.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 EPS. As a group, equities analysts forecast that Diamondback Energy Inc will post 7.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 28th will be given a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, May 24th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.13. Diamondback Energy’s dividend payout ratio (DPR) is presently 8.52%.
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About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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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