Diamondback Energy, Inc. $FANG Holdings Lowered by Tobam

Tobam lowered its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 98.3% during the second quarter, HoldingsChannel reports. The firm owned 187 shares of the oil and natural gas company’s stock after selling 11,135 shares during the period. Tobam’s holdings in Diamondback Energy were worth $26,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alps Advisors Inc. boosted 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 purchasing an additional 300 shares during the period. Signaturefd LLC lifted its holdings in shares of Diamondback Energy by 6.7% in the first quarter. Signaturefd LLC now owns 4,217 shares of the oil and natural gas company’s stock valued at $674,000 after purchasing an additional 266 shares in the last quarter. Apollon Wealth Management LLC boosted its position in shares of Diamondback Energy by 36.4% in the first quarter. Apollon Wealth Management LLC now owns 4,556 shares of the oil and natural gas company’s stock worth $728,000 after buying an additional 1,217 shares during the period. SBI Securities Co. Ltd. grew its holdings in shares of Diamondback Energy by 7.9% during the first quarter. SBI Securities Co. Ltd. now owns 2,132 shares of the oil and natural gas company’s stock valued at $341,000 after buying an additional 156 shares in the last quarter. Finally, Dakota Wealth Management grew its holdings in shares of Diamondback Energy by 58.9% during the first quarter. Dakota Wealth Management now owns 2,720 shares of the oil and natural gas company’s stock valued at $435,000 after buying an additional 1,008 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on FANG shares. Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. Mizuho decreased their price target on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a report on Monday, September 15th. UBS Group upped their price objective on shares of Diamondback Energy from $171.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays decreased their target price on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, KeyCorp cut their price objective on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $188.55.

Diamondback Energy Stock Down 1.3%

FANG stock opened at $146.17 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $186.07. The company has a 50-day moving average of $142.27 and a two-hundred day moving average of $141.95. The stock has a market capitalization of $41.88 billion, a price-to-earnings ratio of 10.16 and a beta of 0.99.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period in the previous year, the company posted $3.19 earnings per share. The firm’s revenue for the quarter was up 48.4% on a year-over-year basis. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th will be issued a dividend of $1.00 per share. The ex-dividend date is Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. Diamondback Energy’s payout ratio is 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.