Diamondback Energy, Inc. $FANG Shares Sold by Callahan Advisors LLC

Callahan Advisors LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 18.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,193 shares of the oil and natural gas company’s stock after selling 1,199 shares during the period. Callahan Advisors LLC’s holdings in Diamondback Energy were worth $713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Davidson Investment Advisors boosted its holdings in shares of Diamondback Energy by 1.2% during the 2nd quarter. Davidson Investment Advisors now owns 57,759 shares of the oil and natural gas company’s stock worth $7,936,000 after purchasing an additional 669 shares during the last quarter. Rosenberg Matthew Hamilton boosted its holdings in shares of Diamondback Energy by 42.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,055 shares of the oil and natural gas company’s stock worth $145,000 after purchasing an additional 315 shares during the last quarter. Sagespring Wealth Partners LLC boosted its holdings in shares of Diamondback Energy by 14.7% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 8,613 shares of the oil and natural gas company’s stock worth $1,183,000 after purchasing an additional 1,102 shares during the last quarter. Equitable Trust Co. boosted its holdings in shares of Diamondback Energy by 47.9% during the 2nd quarter. Equitable Trust Co. now owns 9,957 shares of the oil and natural gas company’s stock worth $1,368,000 after purchasing an additional 3,227 shares during the last quarter. Finally, NorthRock Partners LLC lifted its holdings in Diamondback Energy by 181.6% in the second quarter. NorthRock Partners LLC now owns 3,551 shares of the oil and natural gas company’s stock valued at $488,000 after acquiring an additional 2,290 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $141.94 on Thursday. The firm has a market capitalization of $41.09 billion, a PE ratio of 10.09 and a beta of 1.04. The business’s fifty day moving average price is $142.27 and its 200 day moving average price is $140.80. 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 12 month low of $114.00 and a 12 month high of $186.74.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results 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). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period last year, the company earned $4.52 EPS. The business’s quarterly revenue was up 48.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is currently 28.43%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FANG shares. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. William Blair started coverage on Diamondback Energy in a research note on Monday, August 25th. They set an “outperform” rating for the company. Barclays cut their target price on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Diamondback Energy in a research note on Wednesday, October 8th. Finally, Mizuho cut their target price on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Buy” and a consensus price target of $192.23.

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.