Park National Corp OH Cuts Stock Holdings in Diamondback Energy, Inc. $FANG

Park National Corp OH lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,720 shares of the oil and natural gas company’s stock after selling 3,771 shares during the quarter. Park National Corp OH’s holdings in Diamondback Energy were worth $6,557,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its position in shares of Diamondback Energy by 4.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company’s stock worth $5,784,000 after acquiring an additional 1,384 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Diamondback Energy by 6.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company’s stock worth $9,409,000 after purchasing an additional 3,467 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Diamondback Energy by 50.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company’s stock worth $1,143,000 after purchasing an additional 2,397 shares in the last quarter. True North Advisors LLC acquired a new position in shares of Diamondback Energy during the first quarter worth $327,000. Finally, Wealth Advisory Solutions LLC acquired a new position in shares of Diamondback Energy during the first quarter worth $2,631,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the 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 completion of the sale, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on FANG. Wall Street Zen downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Morgan Stanley boosted their target price on shares of Diamondback Energy from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Bank of America boosted their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. Finally, Melius Research began coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Diamondback Energy presently has an average rating of “Buy” and a consensus price target of $193.17.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $136.88 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $200.47. The company has a market capitalization of $39.63 billion, a PE ratio of 9.73 and a beta of 1.14. The company has a fifty day moving average of $142.68 and a two-hundred day moving average of $142.22.

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

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, August 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.9%. Diamondback Energy’s dividend payout ratio is 28.43%.

Diamondback Energy 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.