Hilltop National Bank Takes $361,000 Position in Diamondback Energy, Inc. $FANG

Hilltop National Bank bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, Holdings Channel.com reports. The fund bought 2,628 shares of the oil and natural gas company’s stock, valued at approximately $361,000.

A number of other large investors have also recently made changes to their positions in FANG. Nuveen LLC purchased a new stake in shares of Diamondback Energy during the first quarter valued at $230,039,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Diamondback Energy in the first quarter valued at about $77,622,000. Wellington Management Group LLP raised its holdings in shares of Diamondback Energy by 27.3% in the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock valued at $311,792,000 after acquiring an additional 418,431 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Diamondback Energy by 50.6% in the first quarter. Victory Capital Management Inc. now owns 1,135,759 shares of the oil and natural gas company’s stock valued at $181,585,000 after acquiring an additional 381,542 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Diamondback Energy by 4.8% in the first quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock valued at $861,961,000 after acquiring an additional 249,098 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following 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 through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $147.47 on Friday. The company has a market capitalization of $42.69 billion, a PE ratio of 10.48 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The company has a 50-day simple moving average of $142.86 and a two-hundred day simple moving average of $141.64. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $200.47.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (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 company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter last year, the company earned $4.52 EPS. The business’s revenue was up 48.1% compared to the same quarter last year. Research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Diamondback Energy in a report on Saturday, September 27th. Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Morgan Stanley lifted their price objective on Diamondback Energy from $184.00 to $186.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Melius Research assumed coverage on Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price objective for the company. Finally, KeyCorp decreased 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 issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently 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.