Diamondback Energy, Inc. $FANG Shares Sold by First Dallas Securities Inc.

First Dallas Securities Inc. reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 39.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,550 shares of the oil and natural gas company’s stock after selling 990 shares during the quarter. First Dallas Securities Inc.’s holdings in Diamondback Energy were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FANG. Allworth Financial LP raised its position in shares of Diamondback Energy by 236.3% in the first quarter. Allworth Financial LP now owns 3,874 shares of the oil and natural gas company’s stock valued at $619,000 after buying an additional 2,722 shares during the last quarter. Alps Advisors Inc. grew its stake in Diamondback Energy by 14.6% in the 1st quarter. Alps Advisors Inc. now owns 2,353 shares of the oil and natural gas company’s stock worth $376,000 after acquiring an additional 300 shares during the period. Xponance Inc. raised its holdings in Diamondback Energy by 1.5% in the 1st quarter. Xponance Inc. now owns 25,008 shares of the oil and natural gas company’s stock valued at $3,998,000 after acquiring an additional 369 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Diamondback Energy by 3.2% during the 1st quarter. Arizona State Retirement System now owns 55,673 shares of the oil and natural gas company’s stock worth $8,901,000 after purchasing an additional 1,748 shares during the period. Finally, BankPlus Trust Department purchased a new position in shares of Diamondback Energy during the 1st quarter worth $27,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the subject of several analyst reports. Evercore ISI upped their target price on Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. Wall Street Zen upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday. William Blair started coverage on shares of Diamondback Energy in a report on Monday, August 25th. They issued an “outperform” rating for the company. Finally, Barclays dropped their price target on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Diamondback Energy has an average rating of “Buy” and a consensus target price of $188.41.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $143.65 on Monday. The firm’s fifty day simple moving average is $142.31 and its 200 day simple moving average is $141.78. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $186.07. The firm has a market capitalization of $41.16 billion, a price-to-earnings ratio of 9.98 and a beta of 0.99.

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

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, November 13th. Diamondback Energy’s dividend payout ratio is currently 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.