Eagle Asset Management Inc. reduced its stake in Diamondback Energy (NASDAQ:FANG) by 5.2% during the 1st quarter, Holdings Channel reports. The firm owned 1,186,621 shares of the oil and natural gas company’s stock after selling 64,510 shares during the period. Diamondback Energy makes up 0.8% of Eagle Asset Management Inc.’s holdings, making the stock its 14th biggest holding. Eagle Asset Management Inc.’s holdings in Diamondback Energy were worth $150,131,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FANG. Bank of Montreal Can boosted its position in shares of Diamondback Energy by 17.2% in the 4th quarter. Bank of Montreal Can now owns 89,719 shares of the oil and natural gas company’s stock worth $11,327,000 after purchasing an additional 13,167 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Diamondback Energy by 7.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 323,946 shares of the oil and natural gas company’s stock worth $40,899,000 after acquiring an additional 21,908 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Diamondback Energy by 346.9% during the fourth quarter. State of Alaska Department of Revenue now owns 8,670 shares of the oil and natural gas company’s stock worth $1,094,000 after acquiring an additional 6,730 shares in the last quarter. S&CO Inc. bought a new position in Diamondback Energy during the fourth quarter worth about $271,000. Finally, CENTRAL TRUST Co lifted its holdings in Diamondback Energy by 14.9% during the fourth quarter. CENTRAL TRUST Co now owns 48,312 shares of the oil and natural gas company’s stock worth $6,099,000 after acquiring an additional 6,260 shares in the last quarter.

Shares of Diamondback Energy opened at $136.26 on Friday, Marketbeat Ratings reports. The stock has a market capitalization of $13.03 billion, a PE ratio of 22.28, a PEG ratio of 0.71 and a beta of 0.84. Diamondback Energy has a one year low of $128.00 and a one year high of $130.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.52 and a current ratio of 0.53.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, May 8th. The oil and natural gas company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. The company had revenue of $480.20 million for the quarter, compared to analyst estimates of $445.78 million. Diamondback Energy had a return on equity of 10.53% and a net margin of 35.09%. The company’s quarterly revenue was up 104.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 earnings per share. analysts predict that Diamondback Energy will post 6.72 earnings per share for the current fiscal year.

The business also recently announced a special dividend, which will be paid on Tuesday, May 29th. Investors of record on Monday, May 21st will be given a $0.125 dividend. The ex-dividend date is Friday, May 18th.

FANG has been the topic of several recent analyst reports. Zacks Investment Research lowered Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Roth Capital lifted their target price on Diamondback Energy from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Morgan Stanley reduced their target price on Diamondback Energy to $159.00 and set an “overweight” rating on the stock in a report on Friday, April 20th. Credit Suisse Group set a $143.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, KeyCorp set a $137.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Sunday, January 21st. Three investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $142.04.

In related news, insider Michael L. Hollis sold 3,000 shares of Diamondback Energy stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $118.80, for a total value of $356,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Teresa L. Dick sold 2,500 shares of Diamondback Energy stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $130.97, for a total value of $327,425.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,620 shares of company stock worth $1,567,773. 0.41% of the stock is owned by company insiders.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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