Ameriflex Group Inc. Sells 154 Shares of Diamondback Energy, Inc. $FANG

Ameriflex Group Inc. trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 18.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 670 shares of the oil and natural gas company’s stock after selling 154 shares during the period. Ameriflex Group Inc.’s holdings in Diamondback Energy were worth $94,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake 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 valued at $5,784,000 after acquiring an additional 1,384 shares during the last quarter. Oppenheimer Asset Management Inc. raised 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 valued at $9,409,000 after acquiring an additional 3,467 shares during the last quarter. China Universal Asset Management Co. Ltd. raised 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 valued at $1,143,000 after acquiring an additional 2,397 shares during the last quarter. True North Advisors LLC bought a new position in shares of Diamondback Energy during the first quarter valued at about $327,000. Finally, Wealth Advisory Solutions LLC bought a new position in shares of Diamondback Energy during the first quarter valued at about $2,631,000. 90.01% of the stock is owned by institutional investors.

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG opened at $147.47 on Friday. The company has a market capitalization of $42.69 billion, a P/E ratio of 10.48 and a beta of 1.04. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $142.86 and a 200 day moving average of $141.52. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $200.47.

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

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a $1.00 dividend. The ex-dividend date was Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.7%. Diamondback Energy’s dividend payout ratio (DPR) is currently 28.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FANG shares. Raymond James Financial lowered their price objective on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 20th. Morgan Stanley increased their price target 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. UBS Group increased their price target on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Wells Fargo & Company increased their price target on shares of Diamondback Energy from $210.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Finally, Melius Research assumed coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Buy” and a consensus price target of $192.41.

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.